Insider Selling: TriCo Bancshares (NASDAQ:TCBK) Director Sells $149,376.15 in Stock

TriCo Bancshares (NASDAQ:TCBK) Director Cory W. Giese sold 3,465 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the transaction, the director now directly owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

TriCo Bancshares Stock Performance

NASDAQ:TCBK opened at $42.79 on Thursday. The firm has a market cap of $1.41 billion, a PE ratio of 13.05 and a beta of 0.56. TriCo Bancshares has a fifty-two week low of $29.38 and a fifty-two week high of $48.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50 day moving average price of $41.45 and a 200-day moving average price of $37.51.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The firm had revenue of $97.86 million during the quarter, compared to analyst estimates of $98.55 million. TriCo Bancshares had a return on equity of 9.93% and a net margin of 21.63%. Equities research analysts predict that TriCo Bancshares will post 3.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TCBK has been the subject of several research reports. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Stephens upped their target price on TriCo Bancshares from $43.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $48.00 target price (up previously from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. Piper Sandler upped their target price on TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, StockNews.com raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, TriCo Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $49.80.

Hedge Funds Weigh In On TriCo Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning raised its holdings in TriCo Bancshares by 62.6% in the second quarter. Creative Planning now owns 21,447 shares of the financial services provider’s stock worth $849,000 after purchasing an additional 8,260 shares in the last quarter. Sei Investments Co. raised its holdings in TriCo Bancshares by 18.3% in the second quarter. Sei Investments Co. now owns 21,348 shares of the financial services provider’s stock worth $845,000 after purchasing an additional 3,303 shares in the last quarter. Renaissance Technologies LLC raised its holdings in TriCo Bancshares by 8.9% in the second quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider’s stock worth $9,333,000 after purchasing an additional 19,224 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in TriCo Bancshares by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock worth $59,471,000 after purchasing an additional 50,358 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in TriCo Bancshares by 27.3% in the second quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock worth $15,975,000 after purchasing an additional 86,689 shares in the last quarter. Institutional investors own 59.11% of the company’s stock.

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.