San Luis Wealth Advisors LLC Cuts Position in TriCo Bancshares (NASDAQ:TCBK)

San Luis Wealth Advisors LLC reduced its stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 44.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,600 shares of the financial services provider's stock after selling 43,484 shares during the quarter. San Luis Wealth Advisors LLC owned about 0.16% of TriCo Bancshares worth $2,142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TCBK. Handelsbanken Fonder AB increased its position in TriCo Bancshares by 26.0% during the first quarter. Handelsbanken Fonder AB now owns 6,300 shares of the financial services provider's stock worth $252,000 after buying an additional 1,300 shares during the period. SG Americas Securities LLC grew its position in shares of TriCo Bancshares by 21.4% during the first quarter. SG Americas Securities LLC now owns 14,310 shares of the financial services provider's stock worth $572,000 after acquiring an additional 2,527 shares during the last quarter. Sweeney & Michel LLC acquired a new position in shares of TriCo Bancshares in the 1st quarter valued at $4,963,000. GAMMA Investing LLC raised its position in TriCo Bancshares by 5,584.8% in the 1st quarter. GAMMA Investing LLC now owns 29,618 shares of the financial services provider's stock valued at $1,184,000 after purchasing an additional 29,097 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in TriCo Bancshares by 591.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider's stock valued at $129,000 after purchasing an additional 2,524 shares during the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Stephens restated an "overweight" rating and issued a $47.00 price objective on shares of TriCo Bancshares in a research note on Monday, April 28th. Keefe, Bruyette & Woods lowered their price target on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Finally, Raymond James Financial dropped their price target on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $47.80.

TriCo Bancshares Stock Performance

TCBK traded up $0.25 during trading on Friday, hitting $39.03. The stock had a trading volume of 208,873 shares, compared to its average volume of 116,483. The firm has a market capitalization of $1.28 billion, a P/E ratio of 11.38 and a beta of 0.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a twelve month low of $35.20 and a twelve month high of $51.06. The company's 50-day moving average price is $39.39 and its 200 day moving average price is $41.74.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. TriCo Bancshares had a net margin of 21.41% and a return on equity of 9.28%. The business had revenue of $98.62 million for the quarter, compared to the consensus estimate of $99.59 million. On average, equities research analysts forecast that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, June 6th. TriCo Bancshares's dividend payout ratio is presently 38.48%.

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.