Hsbc Holdings PLC Buys 13,353 Shares of TriCo Bancshares $TCBK

Hsbc Holdings PLC boosted its stake in TriCo Bancshares (NASDAQ:TCBK) by 76.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,753 shares of the financial services provider’s stock after buying an additional 13,353 shares during the period. Hsbc Holdings PLC owned 0.10% of TriCo Bancshares worth $1,465,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC raised its position in shares of TriCo Bancshares by 28.9% in the 1st quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider’s stock worth $1,307,000 after acquiring an additional 7,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in TriCo Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 820 shares during the period. Goldman Sachs Group Inc. grew its stake in TriCo Bancshares by 4.4% in the first quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock worth $25,727,000 after purchasing an additional 27,193 shares during the period. Empowered Funds LLC raised its holdings in TriCo Bancshares by 8.4% in the first quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock worth $2,047,000 after purchasing an additional 3,951 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in TriCo Bancshares by 280.1% in the first quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock worth $1,977,000 after purchasing an additional 36,443 shares in the last quarter. 59.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on TCBK. Weiss Ratings restated a “buy (b)” rating on shares of TriCo Bancshares in a report on Wednesday, July 8th. Zacks Research cut shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. DA Davidson dropped their price objective on shares of TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday. Piper Sandler boosted their price objective on shares of TriCo Bancshares from $61.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Raymond James Financial cut shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.60.

TriCo Bancshares Trading Down 0.9%

TriCo Bancshares stock opened at $57.57 on Tuesday. TriCo Bancshares has a 12 month low of $39.84 and a 12 month high of $61.71. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.81 and a beta of 0.60. The business’s fifty day simple moving average is $53.60 and its two-hundred day simple moving average is $50.79. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.03. The firm had revenue of $111.88 million during the quarter, compared to the consensus estimate of $110.99 million. TriCo Bancshares had a return on equity of 10.27% and a net margin of 24.67%. As a group, equities analysts predict that TriCo Bancshares will post 4.22 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, June 5th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 34.53%.

TriCo Bancshares Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.