San Luis Wealth Advisors LLC Lowers Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

San Luis Wealth Advisors LLC trimmed its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 22.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,257 shares of the financial services provider’s stock after selling 30,678 shares during the quarter. San Luis Wealth Advisors LLC owned 0.33% of TriCo Bancshares worth $4,575,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TCBK. Sweeney & Michel LLC purchased a new position in TriCo Bancshares during the 1st quarter valued at about $5,015,000. American Century Companies Inc. raised its position in TriCo Bancshares by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock valued at $15,975,000 after purchasing an additional 86,689 shares in the last quarter. Dimensional Fund Advisors LP raised its position in TriCo Bancshares by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after purchasing an additional 50,358 shares in the last quarter. Heartland Advisors Inc. raised its position in TriCo Bancshares by 25.0% in the 1st quarter. Heartland Advisors Inc. now owns 250,000 shares of the financial services provider’s stock valued at $9,195,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in TriCo Bancshares by 58.5% in the 1st quarter. Russell Investments Group Ltd. now owns 98,469 shares of the financial services provider’s stock valued at $3,622,000 after purchasing an additional 36,362 shares in the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at $135,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the transaction, the director now directly owns 11,228 shares in the company, valued at approximately $484,039.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at $135,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Stephens increased their price target on TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Piper Sandler increased their price target on TriCo Bancshares from $47.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $48.00 target price (up previously from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. Finally, DA Davidson raised their target price on TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.80.

TriCo Bancshares Price Performance

Shares of NASDAQ TCBK opened at $41.91 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.85. TriCo Bancshares has a fifty-two week low of $29.38 and a fifty-two week high of $48.80. The firm has a market capitalization of $1.38 billion, a PE ratio of 12.33 and a beta of 0.54. The stock’s 50-day simple moving average is $42.79 and its 200-day simple moving average is $39.63.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $97.86 million for the quarter, compared to analyst estimates of $98.55 million. TriCo Bancshares had a return on equity of 9.93% and a net margin of 21.63%. As a group, equities research analysts forecast that TriCo Bancshares will post 3.31 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s dividend payout ratio (DPR) is 38.82%.

About TriCo Bancshares

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.