Allworth Financial LP Has $341,000 Holdings in TriCo Bancshares (NASDAQ:TCBK)

Allworth Financial LP raised its holdings in TriCo Bancshares (NASDAQ:TCBK) by 21.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,937 shares of the financial services provider’s stock after acquiring an additional 1,413 shares during the period. Allworth Financial LP’s holdings in TriCo Bancshares were worth $341,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in TriCo Bancshares in the third quarter valued at about $28,000. Point72 DIFC Ltd bought a new position in TriCo Bancshares in the third quarter valued at about $114,000. Quantbot Technologies LP bought a new position in TriCo Bancshares in the third quarter valued at about $129,000. Golden State Wealth Management LLC bought a new position in TriCo Bancshares in the fourth quarter valued at about $212,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in TriCo Bancshares in the third quarter valued at about $210,000. Institutional investors own 59.11% of the company’s stock.

Insider Activity at TriCo Bancshares

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the transaction, the director now directly owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.64% of the stock is currently owned by company insiders.

TriCo Bancshares Stock Performance

Shares of TCBK stock opened at $44.05 on Friday. The business’s 50 day simple moving average is $43.90 and its 200 day simple moving average is $44.37. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. The stock has a market capitalization of $1.45 billion, a PE ratio of 12.73 and a beta of 0.57. 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) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. As a group, research analysts forecast that TriCo Bancshares will post 3.35 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on TCBK shares. DA Davidson cut 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 report on Tuesday, November 12th. Piper Sandler reduced their price target on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Keefe, Bruyette & Woods reduced their price target on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a report on Tuesday, January 28th. Finally, Stephens reduced their price target on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.75.

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.