Deutsche Bank AG grew its stake in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 51.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,525 shares of the financial services provider's stock after purchasing an additional 10,422 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of TriCo Bancshares worth $1,334,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Sterling Capital Management LLC lifted its stake in TriCo Bancshares by 800.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 896 shares in the last quarter. Aquatic Capital Management LLC lifted its position in shares of TriCo Bancshares by 129.5% during the fourth quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock valued at $100,000 after purchasing an additional 1,295 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in TriCo Bancshares by 8.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,347 shares of the financial services provider's stock worth $146,000 after purchasing an additional 258 shares during the last quarter. Aigen Investment Management LP bought a new stake in TriCo Bancshares in the 4th quarter worth about $203,000. Finally, Pictet Asset Management Holding SA purchased a new stake in TriCo Bancshares in the 4th quarter valued at about $203,000. Hedge funds and other institutional investors own 59.11% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on TCBK. Raymond James cut their target price 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. Keefe, Bruyette & Woods reduced their price objective on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Finally, Stephens reaffirmed an "overweight" rating and set a $47.00 target price on shares of TriCo Bancshares in a research report on Monday, April 28th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.80.
Check Out Our Latest Stock Report on TriCo Bancshares
TriCo Bancshares Stock Performance
TriCo Bancshares stock traded up $0.39 during trading on Thursday, hitting $40.20. The stock had a trading volume of 77,655 shares, compared to its average volume of 115,785. 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's 50 day moving average is $38.95 and its two-hundred day moving average is $42.60. TriCo Bancshares has a 1 year low of $35.20 and a 1 year high of $51.06. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 11.62 and a beta of 0.59.
TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. The company had revenue of $98.62 million during the quarter, compared to the consensus estimate of $99.59 million. As a group, analysts predict that TriCo Bancshares will post 3.35 EPS for the current year.
TriCo Bancshares Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.28%. TriCo Bancshares's payout ratio is 38.48%.
TriCo Bancshares Company 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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