Barnes Wealth Management Group Inc acquired a new stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,588 shares of the financial services provider's stock, valued at approximately $303,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP lifted its position in TriCo Bancshares by 4.5% during the first quarter. Allworth Financial LP now owns 8,294 shares of the financial services provider's stock valued at $327,000 after purchasing an additional 357 shares in the last quarter. CWM LLC lifted its position in TriCo Bancshares by 59.2% during the first quarter. CWM LLC now owns 1,116 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 415 shares in the last quarter. Two Sigma Securities LLC lifted its position in TriCo Bancshares by 8.5% during the fourth quarter. Two Sigma Securities LLC now owns 5,668 shares of the financial services provider's stock valued at $248,000 after purchasing an additional 446 shares in the last quarter. LPL Financial LLC lifted its position in TriCo Bancshares by 4.1% during the fourth quarter. LPL Financial LLC now owns 11,704 shares of the financial services provider's stock valued at $511,000 after purchasing an additional 466 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in TriCo Bancshares by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,191 shares of the financial services provider's stock valued at $795,000 after purchasing an additional 616 shares in the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.
TriCo Bancshares Trading Up 0.9%
TCBK traded up $0.39 on Wednesday, reaching $45.60. 21,622 shares of the company traded hands, compared to its average volume of 103,413. TriCo Bancshares has a one year low of $35.20 and a one year high of $51.06. The firm has a fifty day simple moving average of $42.01 and a two-hundred day simple moving average of $40.90. The company has a market cap of $1.48 billion, a P/E ratio of 13.41 and a beta of 0.64. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.09.
TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.02. The firm had revenue of $103.61 million during the quarter, compared to analyst estimates of $101.15 million. TriCo Bancshares had a return on equity of 8.99% and a net margin of 21.11%. As a group, equities research analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current year.
TriCo Bancshares Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.36 dividend. The ex-dividend date is Friday, September 5th. This is a positive change from TriCo Bancshares's previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.2%. TriCo Bancshares's dividend payout ratio (DPR) is presently 38.82%.
Analyst Upgrades and Downgrades
TCBK has been the topic of several research reports. DA Davidson lifted their target price on TriCo Bancshares from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Piper Sandler boosted their price objective on TriCo Bancshares from $52.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Raymond James Financial reissued an "outperform" rating and set a $45.00 price objective (up from $43.00) on shares of TriCo Bancshares in a research note on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.60.
View Our Latest Report on TriCo Bancshares
TriCo Bancshares Profile
(
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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