Insider Selling: TriCo Bancshares (NASDAQ:TCBK) Director Sells 5,100 Shares of Stock

TriCo Bancshares (NASDAQ:TCBK) Director Cory W. Giese sold 5,100 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. This trade represents a 45.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

TriCo Bancshares Price Performance

Shares of TCBK stock opened at $48.04 on Friday. The business’s fifty day moving average is $46.11 and its 200 day moving average is $43.09. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 14.30 and a beta of 0.56. TriCo Bancshares has a twelve month low of $31.73 and a twelve 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 the consensus estimate of $98.65 million. Research analysts expect that TriCo Bancshares will post 3.38 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on TCBK. Stephens decreased 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. DA Davidson lowered shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Finally, Piper Sandler cut their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.20.

Institutional Trading of TriCo Bancshares

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in TriCo Bancshares by 5.6% during the second quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider’s stock valued at $7,305,000 after buying an additional 9,723 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of TriCo Bancshares by 10.5% during 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. Principal Financial Group Inc. raised its position in shares of TriCo Bancshares by 7.5% in the 2nd quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 973 shares during the last quarter. Hantz Financial Services Inc. bought a new position in TriCo Bancshares in the 2nd quarter worth about $1,002,000. Finally, Rhumbline Advisers grew its position in TriCo Bancshares by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 63,125 shares of the financial services provider’s stock valued at $2,498,000 after purchasing an additional 1,109 shares during the last quarter. 59.11% of the stock is owned by institutional investors.

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.