Sweeney & Michel LLC Purchases 4,921 Shares of TriCo Bancshares (NASDAQ:TCBK)

Sweeney & Michel LLC boosted its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,599 shares of the financial services provider’s stock after acquiring an additional 4,921 shares during the quarter. TriCo Bancshares accounts for approximately 2.4% of Sweeney & Michel LLC’s investment portfolio, making the stock its 11th biggest holding. Sweeney & Michel LLC owned approximately 0.42% of TriCo Bancshares worth $6,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in shares of TriCo Bancshares by 8.2% in the first quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 287 shares during the period. ProShare Advisors LLC raised its position in shares of TriCo Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 439 shares during the period. Quantbot Technologies LP acquired a new position in shares of TriCo Bancshares in the first quarter valued at about $227,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of TriCo Bancshares by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 758 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in TriCo Bancshares by 36.2% during the first quarter. Principal Financial Group Inc. now owns 13,005 shares of the financial services provider’s stock worth $478,000 after buying an additional 3,460 shares in the last quarter. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Trading Up 0.4 %

Shares of TriCo Bancshares stock traded up $0.18 on Tuesday, hitting $43.44. 25,665 shares of the company’s stock traded hands, compared to its average volume of 117,083. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 12.72 and a beta of 0.54. The company has a fifty day moving average of $43.20 and a two-hundred day moving average of $40.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85. TriCo Bancshares has a one year low of $29.38 and a one year high of $48.80.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%. The firm had revenue of $97.86 million for the quarter, compared to analyst estimates of $98.55 million. As a group, sell-side analysts expect that TriCo Bancshares will post 3.31 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s payout ratio is 38.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TCBK shares. DA Davidson increased their price objective on shares of TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Piper Sandler lifted their price target on shares of TriCo Bancshares from $47.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Stephens lifted their price target on shares of TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Finally, Janney Montgomery Scott reaffirmed a “neutral” rating on shares of TriCo Bancshares in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.80.

Insider Activity at TriCo Bancshares

In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the completion of the sale, the director now directly owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the completion of the sale, the director now directly owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael W. Koehnen sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the sale, the director now directly owns 3,000 shares of the company’s stock, valued at $135,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by corporate insiders.

TriCo Bancshares 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.