Hantz Financial Services Inc. Decreases Stake in TriCo Bancshares (NASDAQ:TCBK)

Hantz Financial Services Inc. decreased its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 2.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 24,671 shares of the financial services provider’s stock after selling 648 shares during the quarter. Hantz Financial Services Inc.’s holdings in TriCo Bancshares were worth $1,052,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TCBK. Quantbot Technologies LP purchased a new stake in TriCo Bancshares during the 3rd quarter valued at about $129,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of TriCo Bancshares during the 3rd quarter worth approximately $210,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of TriCo Bancshares by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 758 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of TriCo Bancshares in the third quarter valued at approximately $395,000. Finally, BNP Paribas Financial Markets lifted its position in TriCo Bancshares by 75.1% during the third quarter. BNP Paribas Financial Markets now owns 11,187 shares of the financial services provider’s stock worth $477,000 after buying an additional 4,799 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TCBK. Stephens dropped their target price on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. DA Davidson cut shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $50.00 to $53.00 in a research report on Tuesday, November 12th. Finally, Piper Sandler reduced their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $48.20.

TriCo Bancshares Stock Performance

NASDAQ TCBK opened at $48.34 on Monday. The stock has a fifty day simple moving average of $44.78 and a 200-day simple moving average of $42.41. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.60 billion, a PE ratio of 14.39 and a beta of 0.54. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. The company had revenue of $133.84 million during the quarter, compared to analyst estimates of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. Equities analysts anticipate that TriCo Bancshares will post 3.38 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, December 6th. TriCo Bancshares’s payout ratio is 39.29%.

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.