Rice Hall James & Associates LLC purchased a new position in shares of TriCo Bancshares (NASDAQ:TCBK – Free Report) during the 1st quarter, Holdings Channel.com reports. The firm purchased 95,224 shares of the financial services provider’s stock, valued at approximately $4,527,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in TriCo Bancshares by 2.0% in the fourth 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TriCo Bancshares by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,696,463 shares of the financial services provider’s stock worth $80,650,000 after purchasing an additional 11,298 shares during the last quarter. Geode Capital Management LLC increased its position in shares of TriCo Bancshares by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 777,826 shares of the financial services provider’s stock worth $36,851,000 after purchasing an additional 6,793 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of TriCo Bancshares by 6.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 672,905 shares of the financial services provider’s stock worth $31,876,000 after purchasing an additional 43,417 shares in the last quarter. Finally, North Reef Capital Management LP purchased a new stake in shares of TriCo Bancshares in the 4th quarter valued at about $22,994,000. 59.11% of the stock is owned by hedge funds and other institutional investors.
TriCo Bancshares Trading Down 2.0%
NASDAQ TCBK opened at $58.12 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market cap of $1.85 billion, a PE ratio of 13.94 and a beta of 0.60. TriCo Bancshares has a one year low of $39.84 and a one year high of $61.71. The firm’s fifty day moving average is $53.44 and its two-hundred day moving average is $50.70.
TriCo Bancshares Dividend Announcement
The business 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. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.44 annualized dividend and a yield of 2.5%. TriCo Bancshares’s dividend payout ratio is currently 36.46%.
Wall Street Analysts Forecast Growth
TCBK has been the subject of a number of research analyst reports. Zacks Research cut TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Raymond James Financial lowered TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Stephens cut TriCo Bancshares from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a research note on Wednesday, July 15th. Piper Sandler downgraded TriCo Bancshares from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $63.00 to $61.00 in a report on Tuesday, July 14th. Finally, DA Davidson increased their price objective on TriCo Bancshares from $55.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.40.
Get Our Latest Stock Report on TriCo Bancshares
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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