TriCo Bancshares (NASDAQ:TCBK - Get Free Report) Director Cory W. Giese sold 5,100 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total value of $252,297.00. Following the completion of the transaction, the director now owns 6,128 shares of the company's stock, valued at $303,152.16. This represents a 45.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
TriCo Bancshares Stock Performance
Shares of TCBK stock opened at $48.97 on Thursday. The stock has a market cap of $1.62 billion, a P/E ratio of 14.57 and a beta of 0.56. The company has a fifty day moving average price of $45.83 and a two-hundred day moving average price of $42.98. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86.
TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. The business had revenue of $133.84 million during the quarter, compared to analysts' expectations of $98.65 million. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. As a group, equities analysts predict that TriCo Bancshares will post 3.38 EPS for the current year.
TriCo Bancshares Dividend Announcement
Missed Nvidia? Buy Elon Musk’s “Silent Partner”
From Brownstone Research | Ad
In February 2016, when almost nobody was talking about artificial intelligence… I picked Nvidia as one of my favorite stocks.
Today, it’s probably the most popular stock in the world.
I believe this Elon Musk “silent partner” could be the next big AI winner.
So please click here to see the details because a lot of people could get rich.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, December 6th. TriCo Bancshares's payout ratio is presently 39.29%.
Institutional Investors Weigh In On TriCo Bancshares
Several hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of TriCo Bancshares in the third quarter valued at $28,000. Point72 DIFC Ltd acquired a new position in TriCo Bancshares in the 3rd quarter valued at about $114,000. Quantbot Technologies LP acquired a new position in TriCo Bancshares in the 3rd quarter valued at about $129,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in TriCo Bancshares in the 3rd quarter valued at about $210,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in TriCo Bancshares during the third quarter worth approximately $259,000. Institutional investors and hedge funds own 59.11% of the company's stock.
Wall Street Analysts Forecast Growth
TCBK has been the topic of a number of recent research reports. Stephens lowered their price objective on shares of TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. Piper Sandler decreased their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Finally, DA Davidson cut shares of TriCo Bancshares from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $50.00 to $53.00 in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, TriCo Bancshares currently has an average rating of "Hold" and an average price target of $48.20.
Read Our Latest Analysis on TriCo Bancshares
About TriCo Bancshares
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
