Cory W. Giese Sells 3,465 Shares of TriCo Bancshares (NASDAQ:TCBK) Stock

TriCo Bancshares (NASDAQ:TCBK) 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 completion of the sale, the director now directly owns 11,228 shares in the company, valued at approximately $484,039.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

TriCo Bancshares Price Performance

Shares of TCBK stock opened at $42.79 on Thursday. TriCo Bancshares has a twelve month low of $29.38 and a twelve month high of $48.80. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 13.05 and a beta of 0.56. The stock has a fifty day simple moving average of $41.45 and a two-hundred day simple moving average of $37.51. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.30.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.07. TriCo Bancshares had a return on equity of 9.93% and a net margin of 21.63%. The business had revenue of $97.86 million during the quarter, compared to analysts’ expectations of $98.55 million. On average, analysts predict that TriCo Bancshares will post 3.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TCBK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $48.00 target price (up previously from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. DA Davidson lifted their target price on TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, July 29th. StockNews.com upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a report on Friday, July 26th. Finally, Stephens boosted their price objective on TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, TriCo Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $49.80.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds have recently made changes to their positions in TCBK. Eagle Asset Management Inc. purchased a new stake in shares of TriCo Bancshares in the 4th quarter worth $8,000,000. Sweeney & Michel LLC bought a new position in shares of TriCo Bancshares in the 1st quarter worth $5,015,000. American Century Companies Inc. raised its position in shares of 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 worth $15,975,000 after acquiring an additional 86,689 shares in the last quarter. Franklin Resources Inc. raised its position in shares of TriCo Bancshares by 6.0% in the 4th quarter. Franklin Resources Inc. now owns 1,526,919 shares of the financial services provider’s stock worth $65,612,000 after acquiring an additional 86,141 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of TriCo Bancshares by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,414,921 shares of the financial services provider’s stock worth $60,801,000 after acquiring an additional 64,815 shares in the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

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.