Barclays PLC Increases Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

Barclays PLC boosted its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 127.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,879 shares of the financial services provider’s stock after purchasing an additional 32,379 shares during the period. Barclays PLC owned approximately 0.18% of TriCo Bancshares worth $2,468,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of TriCo Bancshares during the 3rd quarter worth $395,000. Creative Planning boosted its stake in TriCo Bancshares by 62.6% during the second quarter. Creative Planning now owns 21,447 shares of the financial services provider’s stock worth $849,000 after buying an additional 8,260 shares during the period. Versor Investments LP acquired a new stake in shares of TriCo Bancshares during the third quarter valued at about $699,000. Stifel Financial Corp raised its stake in shares of TriCo Bancshares by 2.2% in the 3rd quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider’s stock valued at $2,049,000 after acquiring an additional 1,013 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of TriCo Bancshares by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock worth $59,471,000 after acquiring an additional 50,358 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Trading Up 0.5 %

TCBK opened at $44.49 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 13.24 and a beta of 0.56. The business has a fifty day moving average price of $46.43 and a 200 day moving average price of $43.58. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The firm had revenue of $133.84 million for the quarter, compared to analyst estimates of $98.65 million. Sell-side analysts expect that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.32 annualized dividend and a dividend yield of 2.97%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 39.29%.

Insider Transactions at TriCo Bancshares

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the sale, the director now directly owns 6,128 shares in the company, valued at $303,152.16. This trade represents a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TCBK. Piper Sandler cut their target price on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. DA Davidson lowered TriCo Bancshares from a “buy” rating to a “neutral” rating and increased their target price for the stock from $50.00 to $53.00 in a research note on Tuesday, November 12th. Finally, Stephens lowered their target price on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.20.

TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.