SG Americas Securities LLC Sells 7,427 Shares of TriCo Bancshares (NASDAQ:TCBK)

SG Americas Securities LLC trimmed its position in TriCo Bancshares (NASDAQ:TCBK) by 68.0% during the fourth quarter, Holdings Channel reports. The firm owned 3,501 shares of the financial services provider’s stock after selling 7,427 shares during the quarter. SG Americas Securities LLC’s holdings in TriCo Bancshares were worth $150,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Middle East FZE acquired a new position in shares of TriCo Bancshares in the second quarter valued at approximately $28,000. Lazard Asset Management LLC acquired a new position in shares of TriCo Bancshares in the second quarter valued at about $28,000. Tower Research Capital LLC TRC grew its stake in shares of TriCo Bancshares by 631.5% in the first quarter. Tower Research Capital LLC TRC now owns 951 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 821 shares in the last quarter. Captrust Financial Advisors increased its position in TriCo Bancshares by 21.7% during the second quarter. Captrust Financial Advisors now owns 1,853 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 331 shares during the period. Finally, Quantbot Technologies LP raised its stake in TriCo Bancshares by 49.6% in the 3rd quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 1,631 shares in the last quarter. Institutional investors own 59.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TCBK shares. StockNews.com upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods reduced their target price on TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. DA Davidson dropped their price target on TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Finally, Raymond James boosted their target price on shares of TriCo Bancshares from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, TriCo Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

TriCo Bancshares Price Performance

TCBK stock opened at $32.03 on Wednesday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 9.10 and a beta of 0.53. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. The company has a 50 day simple moving average of $34.47 and a 200 day simple moving average of $36.05. TriCo Bancshares has a 1 year low of $28.66 and a 1 year high of $45.84.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.07). TriCo Bancshares had a return on equity of 10.64% and a net margin of 23.49%. The firm had revenue of $131.95 million for the quarter, compared to the consensus estimate of $101.30 million. Research analysts anticipate that TriCo Bancshares will post 3.25 EPS for the current fiscal year.

TriCo Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.12%. This is a positive change from TriCo Bancshares’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, March 7th. TriCo Bancshares’s payout ratio is presently 37.50%.

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.