Curi RMB Capital LLC Boosts Holdings in TriCo Bancshares $TCBK

Key Points

• Curi RMB Capital LLC increased its holdings in TriCo Bancshares by 4.6%, owning 369,264 shares valued at approximately $14.76 million as of the latest reporting period.
• TriCo Bancshares recently raised its quarterly dividend from $0.33 to $0.36 per share, reflecting an annualized yield of 3.2%.
• Analysts have a consensus rating of "Moderate Buy" for TriCo Bancshares, with an average price target of $47.60 after several target adjustments.

Curi RMB Capital LLC raised its position in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 4.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 369,264 shares of the financial services provider's stock after purchasing an additional 16,160 shares during the period. Curi RMB Capital LLC owned 1.12% of TriCo Bancshares worth $14,759,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in TriCo Bancshares by 51.8% in the 4th quarter. Deutsche Bank AG now owns 30,525 shares of the financial services provider's stock valued at $1,334,000 after purchasing an additional 10,422 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in TriCo Bancshares by 13.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,108 shares of the financial services provider's stock valued at $3,151,000 after purchasing an additional 8,588 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of TriCo Bancshares by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,839,668 shares of the financial services provider's stock worth $73,532,000 after acquiring an additional 27,348 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of TriCo Bancshares by 591.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider's stock worth $129,000 after acquiring an additional 2,524 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of TriCo Bancshares by 5,584.8% during the 1st quarter. GAMMA Investing LLC now owns 29,618 shares of the financial services provider's stock worth $1,184,000 after acquiring an additional 29,097 shares during the period. Hedge funds and other institutional investors own 59.11% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. DA Davidson lifted their price target 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 raised their price objective on shares of TriCo Bancshares from $52.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Raymond James Financial restated an "outperform" rating and set a $45.00 price objective (up from $43.00) on shares of TriCo Bancshares in a research report on Friday, July 25th. Finally, Zacks Research upgraded shares of TriCo Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.60.

TriCo Bancshares Trading Down 1.9%

TCBK traded down $0.88 on Friday, hitting $45.12. The company had a trading volume of 93,341 shares, compared to its average volume of 79,850. The firm has a market cap of $1.47 billion, a P/E ratio of 13.27 and a beta of 0.68. TriCo Bancshares has a 1 year low of $35.20 and a 1 year high of $51.06. The company's fifty day moving average price is $42.89 and its 200 day moving average price is $40.95. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. The firm had revenue of $103.61 million for the quarter, compared to analyst estimates of $101.15 million. TriCo Bancshares had a net margin of 21.11% and a return on equity of 8.99%. As a group, equities analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Increases Dividend

The business also recently disclosed 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. This is an increase from TriCo Bancshares's previous quarterly dividend of $0.33. The ex-dividend date is Friday, September 5th. This represents a $1.44 annualized dividend and a yield of 3.2%. TriCo Bancshares's payout ratio is presently 38.82%.

TriCo Bancshares Company Profile

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.