TriCo Bancshares (NASDAQ:TCBK) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. decreased its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 2.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 24,671 shares of the financial services provider’s stock after selling 648 shares during the period. Hantz Financial Services Inc. owned approximately 0.07% of TriCo Bancshares worth $1,052,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in TriCo Bancshares during the 3rd quarter worth approximately $129,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of TriCo Bancshares in the third quarter worth $210,000. Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $315,000 after purchasing an additional 758 shares during the last quarter. SG Americas Securities LLC purchased a new stake in TriCo Bancshares in the third quarter valued at $395,000. Finally, BNP Paribas Financial Markets grew its position in TriCo Bancshares by 75.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,187 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 4,799 shares during the period. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Stock Down 1.1 %

Shares of TCBK opened at $48.34 on Monday. The firm has a market cap of $1.60 billion, a P/E ratio of 14.39 and a beta of 0.54. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06. The stock’s 50 day moving average is $44.78 and its two-hundred day moving average is $42.41. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $133.84 million for the quarter, compared to analysts’ expectations of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. 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 announced 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 is Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.73%. TriCo Bancshares’s dividend payout ratio is currently 39.29%.

Wall Street Analysts Forecast Growth

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