San Luis Wealth Advisors LLC Sells 30,678 Shares of TriCo Bancshares (NASDAQ:TCBK)

San Luis Wealth Advisors LLC lessened its holdings in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 22.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,257 shares of the financial services provider's stock after selling 30,678 shares during the period. San Luis Wealth Advisors LLC owned about 0.33% of TriCo Bancshares worth $4,575,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TCBK. SG Americas Securities LLC lifted its holdings in shares of TriCo Bancshares by 8.2% during the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider's stock worth $139,000 after acquiring an additional 287 shares during the period. ProShare Advisors LLC lifted its holdings in shares of TriCo Bancshares by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider's stock worth $205,000 after acquiring an additional 439 shares during the period. Quantbot Technologies LP bought a new stake in shares of TriCo Bancshares during the 1st quarter worth approximately $227,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of TriCo Bancshares by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider's stock worth $315,000 after acquiring an additional 758 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in TriCo Bancshares by 36.2% in the 1st quarter. Principal Financial Group Inc. now owns 13,005 shares of the financial services provider's stock valued at $478,000 after purchasing an additional 3,460 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company's stock.

Insiders Place Their Bets

In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of the firm's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the sale, the director now directly owns 3,000 shares in the company, valued at approximately $135,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of the firm's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the sale, the director now directly owns 3,000 shares in the company, valued at approximately $135,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cory W. Giese sold 3,465 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the completion of the sale, the director now owns 11,228 shares of the company's stock, valued at $484,039.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.64% of the company's stock.

Wall Street Analysts Forecast Growth

TCBK has been the subject of several research reports. Janney Montgomery Scott reissued a "neutral" rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Piper Sandler increased their price objective on shares of TriCo Bancshares from $47.00 to $53.00 and gave the company an "overweight" rating in a research note on Monday, July 29th. DA Davidson raised their price target on shares of TriCo Bancshares from $41.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Stephens raised their price target on shares of TriCo Bancshares from $43.00 to $53.00 and gave the company an "overweight" rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $48.00 price target (up previously from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $49.80.

TriCo Bancshares Trading Up 4.0 %

Shares of TCBK traded up $1.68 during trading hours on Friday, hitting $43.59. 79,287 shares of the stock were exchanged, compared to its average volume of 118,262. 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 current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $42.79 and a 200-day moving average of $39.63. The firm has a market capitalization of $1.44 billion, a P/E ratio of 12.73 and a beta of 0.54.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.07. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%. The company had revenue of $97.86 million during the quarter, compared to analysts' expectations of $98.55 million. On average, research analysts expect that TriCo Bancshares will post 3.31 EPS for the current year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Friday, September 6th. TriCo Bancshares's dividend payout ratio (DPR) is presently 38.82%.

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.