SG Americas Securities LLC Sells 9,673 Shares of TriCo Bancshares $TCBK

SG Americas Securities LLC lowered its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 67.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,637 shares of the financial services provider’s stock after selling 9,673 shares during the period. SG Americas Securities LLC’s holdings in TriCo Bancshares were worth $188,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. CWM LLC grew its position in TriCo Bancshares by 59.2% in the first quarter. CWM LLC now owns 1,116 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 415 shares during the last quarter. PFG Advisors acquired a new stake in shares of TriCo Bancshares in the 2nd quarter valued at approximately $204,000. Barnes Wealth Management Group Inc acquired a new stake in shares of TriCo Bancshares in the 1st quarter valued at approximately $303,000. XTX Topco Ltd bought a new stake in shares of TriCo Bancshares during the 1st quarter valued at approximately $361,000. Finally, Assetmark Inc. acquired a new position in TriCo Bancshares during the 2nd quarter worth approximately $396,000. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Stock Up 0.4%

Shares of TCBK opened at $48.29 on Tuesday. The stock’s 50-day moving average price is $44.55 and its two-hundred day moving average price is $43.05. TriCo Bancshares has a 12 month low of $35.20 and a 12 month high of $49.71. The company has a market capitalization of $1.57 billion, a PE ratio of 13.56 and a beta of 0.69. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.12. The company had revenue of $107.56 million during the quarter, compared to the consensus estimate of $107.08 million. TriCo Bancshares had a return on equity of 9.37% and a net margin of 21.87%. On average, analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $0.36 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.0%. TriCo Bancshares’s payout ratio is 40.45%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TCBK shares. Raymond James Financial restated an “outperform” rating and issued a $46.00 target price (up previously from $45.00) on shares of TriCo Bancshares in a research report on Friday, October 24th. Keefe, Bruyette & Woods raised their price objective on TriCo Bancshares from $46.00 to $50.00 and gave the company a “market perform” rating in a report on Monday, October 27th. Zacks Research raised TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of TriCo Bancshares in a research note on Monday, November 24th. Finally, Wall Street Zen raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, TriCo Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $48.60.

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.