TriCo Bancshares $TCBK Stock Position Lowered by Susquehanna International Group LLP

Susquehanna International Group LLP decreased its position in TriCo Bancshares (NASDAQ:TCBK) by 68.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,315 shares of the financial services provider’s stock after selling 31,683 shares during the period. Susquehanna International Group LLP’s holdings in TriCo Bancshares were worth $771,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of TriCo Bancshares in the second quarter valued at $26,000. Larson Financial Group LLC grew its holdings in shares of TriCo Bancshares by 337.5% during the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after buying an additional 459 shares in the last quarter. Danske Bank A S acquired a new position in TriCo Bancshares during the fourth quarter valued at $28,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in TriCo Bancshares during the second quarter valued at $36,000. Finally, Farther Finance Advisors LLC lifted its stake in TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 211 shares in the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

TriCo Bancshares Price Performance

Shares of TCBK opened at $53.38 on Tuesday. The firm has a market cap of $1.71 billion, a PE ratio of 12.80 and a beta of 0.60. The firm’s 50 day moving average price is $56.37 and its 200 day moving average price is $51.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. TriCo Bancshares has a twelve month low of $40.44 and a twelve month high of $61.71.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 EPS for the quarter, topping the consensus estimate of $1.03 by $0.03. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. The company had revenue of $111.88 million during the quarter, compared to the consensus estimate of $110.99 million. As a group, research analysts expect that TriCo Bancshares will post 4.28 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 11th. TriCo Bancshares’s payout ratio is presently 34.53%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TCBK shares. Piper Sandler lifted their target price on TriCo Bancshares from $61.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. DA Davidson lowered their price objective on shares of TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of TriCo Bancshares in a research note on Wednesday, July 8th. Finally, Raymond James Financial downgraded shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.60.

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.