North Reef Capital Management LP trimmed its stake in TriCo Bancshares (NASDAQ:TCBK – Free Report) by 23.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 373,141 shares of the financial services provider’s stock after selling 112,282 shares during the period. North Reef Capital Management LP’s holdings in TriCo Bancshares were worth $17,739,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new stake in TriCo Bancshares during the fourth quarter worth approximately $815,000. Assenagon Asset Management S.A. bought a new position in shares of TriCo Bancshares in the fourth quarter valued at approximately $1,126,000. SG Americas Securities LLC raised its position in shares of TriCo Bancshares by 136.8% in the fourth quarter. SG Americas Securities LLC now owns 20,389 shares of the financial services provider’s stock valued at $966,000 after purchasing an additional 11,780 shares during the period. Deprince Race & Zollo Inc. lifted its stake in shares of TriCo Bancshares by 15.2% in the fourth quarter. Deprince Race & Zollo Inc. now owns 87,111 shares of the financial services provider’s stock worth $4,126,000 after buying an additional 11,480 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of TriCo Bancshares by 14.1% in the fourth quarter. UBS Group AG now owns 92,320 shares of the financial services provider’s stock worth $4,373,000 after buying an additional 11,392 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.
TriCo Bancshares Trading Down 2.0%
Shares of TriCo Bancshares stock opened at $58.12 on Friday. TriCo Bancshares has a 1 year low of $39.84 and a 1 year high of $61.71. The company’s fifty day simple moving average is $53.44 and its 200-day simple moving average is $50.70. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 13.94 and a beta of 0.60. 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 Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, June 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.5%. TriCo Bancshares’s payout ratio is presently 36.46%.
Wall Street Analyst Weigh In
TCBK has been the topic of a number of research analyst reports. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research report on Wednesday, July 8th. DA Davidson upped their price target on shares of TriCo Bancshares from $55.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Piper Sandler cut shares of TriCo Bancshares from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $63.00 to $61.00 in a report on Tuesday, July 14th. Finally, Raymond James Financial downgraded TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.40.
View Our Latest Research Report on TCBK
TriCo Bancshares Company 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.
Featured Articles
- Five stocks we like better than TriCo Bancshares
- Telecom Earnings Reveal a Sector That Finally Looks Healthier
- Defense Earnings Show Readiness Now and Modernization Ahead
- Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off
- MarketBeat Week in Review – 07/20- 07/24
Want to see what other hedge funds are holding TCBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TriCo Bancshares (NASDAQ:TCBK – Free Report).
Receive News & Ratings for TriCo Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriCo Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.
