SG Americas Securities LLC Acquires 48,837 Shares of TriCo Bancshares $TCBK

SG Americas Securities LLC increased its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 239.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,226 shares of the financial services provider’s stock after acquiring an additional 48,837 shares during the quarter. SG Americas Securities LLC owned about 0.22% of TriCo Bancshares worth $3,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC lifted its stake in shares of TriCo Bancshares by 337.5% during the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after buying an additional 459 shares during the last quarter. Danske Bank A S acquired a new position in TriCo Bancshares in the 4th quarter valued at about $28,000. Farther Finance Advisors LLC lifted its position in TriCo Bancshares by 40.3% during the fourth quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 211 shares during the last quarter. Abound Financial LLC acquired a new stake in TriCo Bancshares during the fourth quarter worth approximately $43,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of TriCo Bancshares during the third quarter worth approximately $76,000. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Stock Performance

TCBK opened at $53.85 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.87. TriCo Bancshares has a 52-week low of $39.69 and a 52-week high of $54.17. The firm has a market cap of $1.72 billion, a P/E ratio of 13.63 and a beta of 0.60. The business’s fifty day moving average is $50.90 and its 200-day moving average is $49.65.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly 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 business had revenue of $111.21 million during the quarter. Sell-side analysts expect that TriCo Bancshares will post 4.22 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

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

Analyst Ratings Changes

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

About TriCo Bancshares

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.