Allworth Financial LP Acquires 111,099 Shares of TriCo Bancshares $TCBK

Allworth Financial LP lifted its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 1,339.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 119,393 shares of the financial services provider’s stock after buying an additional 111,099 shares during the quarter. Allworth Financial LP owned about 0.36% of TriCo Bancshares worth $4,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Teacher Retirement System of Texas boosted its stake in TriCo Bancshares by 22.0% during the first quarter. Teacher Retirement System of Texas now owns 10,344 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 1,864 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of TriCo Bancshares during the first quarter valued at about $351,000. CWM LLC boosted its position in shares of TriCo Bancshares by 59.2% during the 1st quarter. CWM LLC now owns 1,116 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 415 shares in the last quarter. XTX Topco Ltd bought a new position in shares of TriCo Bancshares during the 1st quarter worth about $361,000. Finally, Vanguard Group Inc. grew its stake in shares of TriCo Bancshares by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,839,668 shares of the financial services provider’s stock valued at $73,532,000 after buying an additional 27,348 shares during the period. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Trading Up 0.7%

NASDAQ TCBK opened at $45.49 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $44.23 and a 200 day simple moving average of $42.39. TriCo Bancshares has a 12 month low of $35.20 and a 12 month high of $51.06. The firm has a market capitalization of $1.48 billion, a P/E ratio of 12.78 and a beta of 0.69.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.12. The firm had revenue of $18.01 million for the quarter, compared to the consensus estimate of $107.08 million. TriCo Bancshares had a net margin of 21.87% and a return on equity of 9.37%. On average, analysts predict that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, September 5th. This is a positive change from TriCo Bancshares’s previous quarterly dividend of $0.33. TriCo Bancshares’s payout ratio is currently 40.45%.

Analyst Ratings Changes

A number of research analysts recently weighed in on TCBK shares. DA Davidson upped their price target on TriCo Bancshares from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Piper Sandler boosted their price objective on TriCo Bancshares from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Keefe, Bruyette & Woods upped their target price on TriCo Bancshares from $46.00 to $50.00 and gave the stock a “market perform” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TriCo Bancshares in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.60.

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.