20,423 Shares in TriCo Bancshares $TCBK Acquired by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP acquired 20,423 shares of TriCo Bancshares during the second quarter, worth approximately $1.1 million and representing about 0.06% of the company. Institutional investors collectively own 59.11% of TCBK.
• Analyst sentiment remains mixed: Stephens upgraded the stock to “overweight,” while other firms maintained “hold” or neutral ratings. MarketBeat lists an overall “Hold” consensus and an average price target of $56.60.
• TriCo Bancshares reported quarterly EPS of $1.06, beating estimates of $1.03, on revenue of $111.88 million. The company also pays a quarterly dividend of $0.36 per share, equivalent to a 2.5% yield.

GSA Capital Partners LLP acquired a new stake in TriCo Bancshares (NASDAQ:TCBK - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,423 shares of the financial services provider's stock, valued at approximately $1,100,000. GSA Capital Partners LLP owned approximately 0.06% of TriCo Bancshares at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of TriCo Bancshares by 2.0% during 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 purchasing an additional 38,311 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in TriCo Bancshares by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,696,463 shares of the financial services provider's stock worth $80,650,000 after buying an additional 11,298 shares in the last quarter. Geode Capital Management LLC increased its holdings in TriCo Bancshares by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 777,826 shares of the financial services provider's stock worth $36,851,000 after buying an additional 6,793 shares in the last quarter. Goldman Sachs Group Inc. raised its position in TriCo Bancshares by 6.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 672,905 shares of the financial services provider's stock worth $31,876,000 after buying an additional 43,417 shares during the last quarter. Finally, North Reef Capital Management LP purchased a new position in TriCo Bancshares in the 4th quarter worth about $22,994,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stephens raised shares of TriCo Bancshares from an "equal weight" rating to an "overweight" rating in a report on Thursday, August 6th. Zacks Research cut shares of TriCo Bancshares from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Piper Sandler increased their price objective on shares of TriCo Bancshares from $61.00 to $63.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. DA Davidson dropped their target price on shares of TriCo Bancshares from $66.00 to $65.00 and set a "neutral" rating on the stock in a report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of TriCo Bancshares in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $56.60.

TriCo Bancshares Trading Down 0.2%

Shares of NASDAQ:TCBK opened at $57.46 on Tuesday. The stock's 50-day simple moving average is $55.77 and its two-hundred day simple moving average is $51.69. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.78 and a beta of 0.60. TriCo Bancshares has a 52-week low of $40.44 and a 52-week high of $61.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. The firm had revenue of $111.88 million during the quarter, compared to analyst estimates of $110.99 million. Analysts expect that TriCo Bancshares will post 4.28 EPS for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued 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 of this dividend was Friday, June 5th. TriCo Bancshares's dividend payout ratio is currently 34.53%.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source