TriCo Bancshares (NASDAQ:TCBK) Director Sells $252,297.00 in Stock

TriCo Bancshares (NASDAQ:TCBK) Director Cory W. Giese sold 5,100 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the transaction, the director now owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

TriCo Bancshares Stock Performance

NASDAQ:TCBK opened at $48.04 on Friday. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $51.06. 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 business has a 50 day moving average of $46.11 and a 200 day moving average of $43.09. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 14.30 and a beta of 0.56.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $98.65 million. On average, sell-side analysts predict that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.75%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 39.29%.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of TCBK. Point72 Asia Singapore Pte. Ltd. bought a new position in TriCo Bancshares during the 3rd quarter worth approximately $28,000. Point72 DIFC Ltd purchased a new stake in shares of TriCo Bancshares during the third quarter valued at approximately $114,000. Quantbot Technologies LP bought a new position in shares of TriCo Bancshares in the third quarter worth approximately $129,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of TriCo Bancshares in the third quarter worth approximately $210,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in TriCo Bancshares during the 3rd quarter valued at $259,000. Institutional investors own 59.11% of the company’s stock.

Analyst Ratings Changes

TCBK has been the subject of several recent analyst reports. DA Davidson lowered TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Piper Sandler dropped their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, Stephens decreased their price target on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $48.20.

About TriCo Bancshares

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.