Hsbc Holdings PLC Acquires Shares of 17,400 TriCo Bancshares $TCBK

Hsbc Holdings PLC acquired a new position in TriCo Bancshares (NASDAQ:TCBK) during the fourth quarter, HoldingsChannel reports. The fund acquired 17,400 shares of the financial services provider’s stock, valued at approximately $815,000.

Several other large investors also recently made changes to their positions in TCBK. Vanguard Group Inc. increased its stake in shares of TriCo Bancshares by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 1,922,988 shares of the financial services provider’s stock valued at $91,092,000 after buying an additional 38,311 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in TriCo Bancshares by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,683,048 shares of the financial services provider’s stock worth $74,744,000 after buying an additional 14,748 shares in the last quarter. Geode Capital Management LLC grew its holdings in TriCo Bancshares by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 777,826 shares of the financial services provider’s stock worth $36,851,000 after acquiring an additional 6,793 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in TriCo Bancshares by 6.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 672,905 shares of the financial services provider’s stock worth $31,876,000 after acquiring an additional 43,417 shares during the last quarter. Finally, North Reef Capital Management LP bought a new stake in TriCo Bancshares during the 4th quarter worth about $22,994,000. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Price Performance

Shares of TCBK stock opened at $58.81 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. TriCo Bancshares has a 12-month low of $39.69 and a 12-month high of $60.42. The firm has a fifty day moving average of $51.88 and a 200-day moving average of $50.04. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 14.89 and a beta of 0.60.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Monday, March 2nd. The financial services provider reported $1.03 EPS for the quarter. The business had revenue of $111.21 million for the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%. On average, equities research analysts forecast that TriCo Bancshares will post 4.22 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, June 5th. TriCo Bancshares’s dividend payout ratio is 36.46%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TCBK shares. Raymond James Financial cut shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of TriCo Bancshares in a research report on Wednesday, July 8th. Piper Sandler downgraded TriCo Bancshares from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $63.00 to $61.00 in a report on Tuesday. DA Davidson upped their price objective on TriCo Bancshares from $55.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, TriCo Bancshares currently has an average rating of “Hold” and a consensus price target of $56.60.

More TriCo Bancshares News

Here are the key news stories impacting TriCo Bancshares this week:

• Positive Sentiment: TriCo agreed to be acquired by First Hawaiian in an all-stock transaction, which is the main catalyst behind the stock’s surge and reflects a significant acquisition premium. TriCo Bancshares (TCBK) Stock Jumps 12%: Here’s Why the Stock Is Trending Today
• Positive Sentiment: DA Davidson raised its price target on TriCo, signaling a higher estimated valuation even while keeping a neutral rating. Benzinga report on DA Davidson price target increase
• Neutral Sentiment: Multiple shareholder law firms have announced investigations into whether TriCo’s board obtained a fair price and followed a proper process in the sale. TriCo Bancshares Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of TriCo Bancshares – TCBK
• Negative Sentiment: Those legal and process challenges could create uncertainty around deal approval, timing, or terms, which may temper upside if investors worry the transaction could face scrutiny. Shareholder Alert: Ademi LLP investigates whether TriCo Bancshares is obtaining a Fair Price for Public Shareholders

TriCo Bancshares Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.