Bridgeway Capital Management LLC grew its holdings in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 42.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,153 shares of the financial services provider's stock after purchasing an additional 29,419 shares during the period. Bridgeway Capital Management LLC owned approximately 0.30% of TriCo Bancshares worth $4,289,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC increased its holdings in TriCo Bancshares by 800.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 896 shares during the last quarter. Aquatic Capital Management LLC grew its stake in shares of TriCo Bancshares by 129.5% in the fourth quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock valued at $100,000 after buying an additional 1,295 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of TriCo Bancshares by 8.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,347 shares of the financial services provider's stock valued at $146,000 after buying an additional 258 shares during the period. Aigen Investment Management LP purchased a new position in TriCo Bancshares during the 4th quarter valued at about $203,000. Finally, Pictet Asset Management Holding SA acquired a new position in TriCo Bancshares in the 4th quarter valued at about $203,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
TCBK has been the subject of several recent research reports. Stephens reissued an "overweight" rating and issued a $47.00 price objective on shares of TriCo Bancshares in a research note on Monday, April 28th. Raymond James cut their price target on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods lowered their price objective on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.80.
View Our Latest Report on TriCo Bancshares
TriCo Bancshares Stock Performance
TCBK traded down $0.25 on Tuesday, reaching $41.04. The company had a trading volume of 18,539 shares, compared to its average volume of 115,889. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.35 billion, a PE ratio of 11.86 and a beta of 0.59. The stock has a 50-day moving average price of $39.08 and a 200-day moving average price of $42.99. TriCo Bancshares has a 1 year low of $35.20 and a 1 year high of $51.06.
TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The business had revenue of $98.62 million during the quarter, compared to analysts' expectations of $99.59 million. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. As a group, research analysts forecast that TriCo Bancshares will post 3.35 EPS for the current fiscal year.
TriCo Bancshares Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Friday, March 7th. TriCo Bancshares's dividend payout ratio (DPR) is 38.48%.
TriCo Bancshares Profile
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Free Report)
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.
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