TriCo Bancshares (NASDAQ:TCBK) EVP Craig B. Carney Sells 757 Shares

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) EVP Craig B. Carney sold 757 shares of TriCo Bancshares stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $38.00, for a total value of $28,766.00. Following the completion of the sale, the executive vice president now directly owns 32,325 shares of the company's stock, valued at $1,228,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

TriCo Bancshares Stock Up 1.2 %

NASDAQ TCBK traded up $0.45 during trading on Tuesday, reaching $38.10. 82,926 shares of the company's stock were exchanged, compared to its average volume of 116,655. TriCo Bancshares has a 1 year low of $29.38 and a 1 year high of $45.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $1.26 billion, a P/E ratio of 11.62 and a beta of 0.54. The company has a 50 day moving average price of $34.96 and a two-hundred day moving average price of $36.63.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. TriCo Bancshares had a return on equity of 9.75% and a net margin of 21.25%. The business had revenue of $131.19 million during the quarter, compared to the consensus estimate of $99.50 million. On average, equities research analysts anticipate that TriCo Bancshares will post 3.2 EPS for the current fiscal year.

TriCo Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.46%. The ex-dividend date was Thursday, March 7th. This is a boost from TriCo Bancshares's previous quarterly dividend of $0.30. TriCo Bancshares's payout ratio is 40.24%.

Analyst Upgrades and Downgrades

TCBK has been the subject of several analyst reports. StockNews.com raised TriCo Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday, April 30th. Raymond James boosted their target price on TriCo Bancshares from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods lowered their target price on TriCo Bancshares from $44.00 to $42.00 and set a "market perform" rating for the company in a research note on Friday, January 26th. Finally, DA Davidson decreased their price target on TriCo Bancshares from $49.00 to $45.00 and set a "buy" rating for the company in a report on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.00.

Hedge Funds Weigh In On TriCo Bancshares

Several institutional investors have recently added to or reduced their stakes in TCBK. Bank of New York Mellon Corp increased its position in TriCo Bancshares by 1.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 188,351 shares of the financial services provider's stock valued at $6,033,000 after acquiring an additional 2,675 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in TriCo Bancshares by 39.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,215 shares of the financial services provider's stock valued at $231,000 after acquiring an additional 2,024 shares during the period. Mesirow Institutional Investment Management Inc. increased its position in TriCo Bancshares by 9.2% in the 3rd quarter. Mesirow Institutional Investment Management Inc. now owns 212,196 shares of the financial services provider's stock valued at $6,797,000 after acquiring an additional 17,952 shares during the period. Principal Financial Group Inc. acquired a new position in TriCo Bancshares during the 3rd quarter worth approximately $281,000. Finally, Fermata Advisors LLC acquired a new position in TriCo Bancshares during the 3rd quarter worth approximately $329,000. Institutional investors and hedge funds own 59.11% of the company's stock.

TriCo Bancshares Company 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.

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