Basswood Capital Management L.L.C. bought a new stake in TriCo Bancshares (NASDAQ:TCBK - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 137,981 shares of the financial services provider's stock, valued at approximately $7,430,000. Basswood Capital Management L.L.C. owned about 0.43% of TriCo Bancshares as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider's stock valued at $26,000 after buying an additional 459 shares during the last quarter. Danske Bank A S purchased a new position in shares of TriCo Bancshares during the fourth quarter worth approximately $28,000. Farther Finance Advisors LLC increased its holdings in shares of TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 211 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of TriCo Bancshares in the 2nd quarter valued at $36,000. Finally, Abound Financial LLC purchased a new stake in TriCo Bancshares in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 59.11% of the company's stock.
TriCo Bancshares Trading Up 0.5%
NASDAQ:TCBK opened at $54.15 on Thursday. The stock has a fifty day moving average price of $56.24 and a two-hundred day moving average price of $51.91. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 12.99 and a beta of 0.60. 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 has a 1 year low of $40.44 and a 1 year high of $61.71.
TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 EPS for the quarter, topping 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 company had revenue of $111.88 million for the quarter, compared to analyst estimates of $110.99 million. As a group, sell-side analysts anticipate that TriCo Bancshares will post 4.28 earnings per share for the current fiscal year.
TriCo Bancshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a $0.36 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. TriCo Bancshares's dividend payout ratio (DPR) is 34.53%.
Analysts Set New Price Targets
TCBK has been the subject of a number of recent research reports. Stephens upgraded shares of TriCo Bancshares from an "equal weight" rating to an "overweight" rating in a research note on Thursday, August 6th. DA Davidson dropped their price objective on shares of TriCo Bancshares from $66.00 to $65.00 and set a "neutral" rating on the stock in a research note on Monday, July 27th. Raymond James Financial cut shares of TriCo Bancshares from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 14th. Weiss Ratings reiterated a "buy (b)" rating on shares of TriCo Bancshares in a research note on Wednesday, July 8th. Finally, Zacks Research lowered TriCo Bancshares from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $56.60.
Get Our Latest Analysis on TriCo Bancshares
TriCo Bancshares Company Profile
(
Free Report)
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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