Farther Finance Advisors LLC Decreases Holdings in TriCo Bancshares (NASDAQ:TCBK)

Farther Finance Advisors LLC reduced its position in TriCo Bancshares (NASDAQ:TCBK) by 85.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 664 shares of the financial services provider’s stock after selling 3,926 shares during the quarter. Farther Finance Advisors LLC’s holdings in TriCo Bancshares were worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC lifted its holdings in shares of TriCo Bancshares by 8.2% during the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 287 shares during the last quarter. ProShare Advisors LLC raised its position in TriCo Bancshares by 8.5% during the 1st 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in TriCo Bancshares by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 758 shares during the last quarter. Sei Investments Co. lifted its stake in TriCo Bancshares by 4.4% in the first quarter. Sei Investments Co. now owns 18,045 shares of the financial services provider’s stock worth $664,000 after acquiring an additional 764 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of TriCo Bancshares by 7.5% during the 2nd quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 973 shares in the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TriCo Bancshares

In related news, Director Michael W. Koehnen sold 1,400 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 3,000 shares in the company, valued at $135,600. This trade represents a 31.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TCBK. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $48.00 price objective (up previously from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. DA Davidson cut shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and increased their price target for the company from $50.00 to $53.00 in a report on Tuesday. Piper Sandler lowered their price target on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Finally, Stephens reduced their price objective on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, TriCo Bancshares has an average rating of “Hold” and a consensus target price of $48.20.

TriCo Bancshares Trading Down 0.0 %

Shares of TriCo Bancshares stock opened at $47.59 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The company has a fifty day moving average of $43.76 and a 200 day moving average of $41.61. The company has a market capitalization of $1.57 billion, a P/E ratio of 14.16 and a beta of 0.54. TriCo Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $50.63.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $98.65 million. On average, sell-side analysts anticipate that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s payout ratio is 39.29%.

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.