Deutsche Bank AG acquired a new position in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 32,665 shares of the financial services provider's stock, valued at approximately $1,759,000. Deutsche Bank AG owned about 0.10% of TriCo Bancshares as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC purchased a new position in shares of TriCo Bancshares in the 4th quarter worth approximately $815,000. GSA Capital Partners LLP purchased a new stake in shares of TriCo Bancshares during the second quarter valued at approximately $1,100,000. Rice Hall James & Associates LLC purchased a new stake in shares of TriCo Bancshares during the second quarter valued at approximately $6,154,000. marrick wealth LLC bought a new stake in TriCo Bancshares during the fourth quarter worth $778,000. Finally, UBS Group AG lifted its holdings in TriCo Bancshares by 14.1% during the fourth quarter. UBS Group AG now owns 92,320 shares of the financial services provider's stock worth $4,373,000 after acquiring an additional 11,392 shares during the period. 59.11% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have issued reports on TCBK shares. Weiss Ratings restated a "buy (b)" rating on shares of TriCo Bancshares in a research note on Wednesday, July 8th. Stephens upgraded TriCo Bancshares from an "equal weight" rating to an "overweight" rating in a research note on Thursday, August 6th. DA Davidson reduced their price target on shares of TriCo Bancshares from $66.00 to $65.00 and set a "neutral" rating for the company in a research report on Monday, July 27th. Raymond James Financial lowered shares of TriCo Bancshares from an "outperform" rating to a "market perform" rating in a research report on Tuesday, July 14th. Finally, Piper Sandler lifted their price objective on shares of TriCo Bancshares from $61.00 to $63.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $56.60.
View Our Latest Stock Report on TriCo Bancshares
TriCo Bancshares Price Performance
NASDAQ TCBK opened at $53.81 on Friday. The company has a market cap of $1.72 billion, a PE ratio of 12.90 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 quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm's 50-day simple moving average is $56.34 and its two-hundred day simple moving average is $51.93.
TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share (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 company had revenue of $111.88 million for the quarter, compared to analyst estimates of $110.99 million. Research analysts predict that TriCo Bancshares will post 4.28 earnings per share for the current year.
TriCo Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 11th. TriCo Bancshares's dividend payout ratio (DPR) is presently 34.53%.
TriCo Bancshares 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.
Further Reading
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