Sei Investments Co. Sells 11,556 Shares of TriCo Bancshares $TCBK

Sei Investments Co. cut its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 34.7% in the 1st quarter, HoldingsChannel reports. The firm owned 21,721 shares of the financial services provider’s stock after selling 11,556 shares during the quarter. Sei Investments Co.’s holdings in TriCo Bancshares were worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in TCBK. Larson Financial Group LLC boosted its holdings in shares of TriCo Bancshares by 337.5% in the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after buying an additional 459 shares during the last quarter. Danske Bank A S bought a new position in TriCo Bancshares during the fourth quarter valued at about $28,000. Farther Finance Advisors LLC increased its holdings in TriCo Bancshares by 40.3% during the fourth quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after buying an additional 211 shares during the last quarter. Abound Financial LLC purchased a new stake in TriCo Bancshares during the fourth quarter worth about $43,000. Finally, Parallel Advisors LLC raised its position in TriCo Bancshares by 88.5% in the first quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 676 shares during the period. 59.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TCBK has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on shares of TriCo Bancshares from $61.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Raymond James Financial lowered shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 14th. DA Davidson lowered their price target on shares of TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Stephens upgraded TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research note on Thursday, August 6th. Finally, Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.60.

TriCo Bancshares Price Performance

TCBK stock opened at $57.60 on Thursday. The firm has a 50 day moving average of $55.35 and a 200-day moving average of $51.52. The firm has a market capitalization of $1.84 billion, a P/E ratio of 13.81 and a beta of 0.60. TriCo Bancshares has a 12 month low of $40.44 and a 12 month high of $61.71. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. The firm had revenue of $111.88 million during the quarter, compared to the consensus estimate of $110.99 million. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.27%. As a group, sell-side analysts predict that TriCo Bancshares will post 4.28 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.44 annualized dividend and a yield of 2.5%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 34.53%.

TriCo Bancshares Company 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.