UBS Group AG raised its holdings in TriCo Bancshares (NASDAQ:TCBK – Free Report) by 14.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 92,320 shares of the financial services provider’s stock after acquiring an additional 11,392 shares during the quarter. UBS Group AG’s holdings in TriCo Bancshares were worth $4,373,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TCBK. Mercer Global Advisors Inc. ADV acquired a new position in TriCo Bancshares in the 3rd quarter valued at approximately $6,972,000. Millennium Management LLC increased its position in TriCo Bancshares by 292.7% in the 3rd quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock valued at $6,009,000 after acquiring an additional 100,858 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in TriCo Bancshares by 20.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 289,483 shares of the financial services provider’s stock valued at $12,856,000 after acquiring an additional 49,663 shares during the period. JPMorgan Chase & Co. increased its position in TriCo Bancshares by 13.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 361,435 shares of the financial services provider’s stock valued at $16,051,000 after acquiring an additional 42,657 shares during the period. Finally, Vanguard Group Inc. increased its position in TriCo Bancshares by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 1,922,988 shares of the financial services provider’s stock valued at $91,092,000 after acquiring an additional 38,311 shares during the period. 59.11% of the stock is currently owned by institutional investors and hedge funds.
TriCo Bancshares Trading Down 0.2%
NASDAQ:TCBK opened at $50.68 on Friday. The firm’s fifty day moving average is $49.07 and its 200-day moving average is $48.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.87. TriCo Bancshares has a 52 week low of $36.32 and a 52 week high of $53.18. The firm has a market cap of $1.62 billion, a P/E ratio of 12.83 and a beta of 0.61.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on TCBK shares. Zacks Research upgraded shares of TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Piper Sandler upped their price target on shares of TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. DA Davidson upped their price target on shares of TriCo Bancshares from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Weiss Ratings upgraded shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Finally, Stephens upped their price objective on shares of TriCo Bancshares from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.60.
View Our Latest Stock Report on TCBK
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.
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