SG Americas Securities LLC Has $3.29 Million Stock Position in TriCo Bancshares $TCBK

SG Americas Securities LLC boosted its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 239.5% in the 1st quarter, Holdings Channel reports. The firm owned 69,226 shares of the financial services provider’s stock after buying an additional 48,837 shares during the period. SG Americas Securities LLC’s holdings in TriCo Bancshares were worth $3,291,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new position in shares of TriCo Bancshares during the 4th quarter worth $1,126,000. JPMorgan Chase & Co. boosted its stake in TriCo Bancshares by 13.4% in the third quarter. JPMorgan Chase & Co. now owns 361,435 shares of the financial services provider’s stock valued at $16,051,000 after buying an additional 42,657 shares in the last quarter. Deprince Race & Zollo Inc. grew its position in TriCo Bancshares by 15.2% in the fourth quarter. Deprince Race & Zollo Inc. now owns 87,111 shares of the financial services provider’s stock valued at $4,126,000 after acquiring an additional 11,480 shares during the last quarter. UBS Group AG grew its position in TriCo Bancshares by 14.1% in the fourth quarter. UBS Group AG now owns 92,320 shares of the financial services provider’s stock valued at $4,373,000 after acquiring an additional 11,392 shares during the last quarter. Finally, marrick wealth LLC acquired a new position in TriCo Bancshares during the fourth quarter worth about $778,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Trading Up 1.1%

Shares of TCBK stock opened at $53.85 on Wednesday. The firm has a market capitalization of $1.72 billion, a P/E ratio of 13.63 and a beta of 0.60. TriCo Bancshares has a twelve month low of $39.69 and a twelve month high of $54.17. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $50.90 and its 200 day simple moving average is $49.65.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Monday, March 2nd. The financial services provider reported $1.03 EPS for the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%.The firm had revenue of $111.21 million during the quarter. As a group, sell-side analysts predict that TriCo Bancshares will post 4.22 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. TriCo Bancshares’s dividend payout ratio is currently 36.46%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Zacks Research cut shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Piper Sandler upped their price objective on shares of TriCo Bancshares from $59.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.60.

TriCo Bancshares 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.