GAMMA Investing LLC Grows Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

GAMMA Investing LLC boosted its holdings in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 5,584.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,618 shares of the financial services provider's stock after buying an additional 29,097 shares during the quarter. GAMMA Investing LLC owned approximately 0.09% of TriCo Bancshares worth $1,184,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TCBK. Deutsche Bank AG grew its position in shares of TriCo Bancshares by 51.8% in the 4th quarter. Deutsche Bank AG now owns 30,525 shares of the financial services provider's stock worth $1,334,000 after buying an additional 10,422 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in TriCo Bancshares by 13.5% in the fourth 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 worth $3,151,000 after acquiring an additional 8,588 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of TriCo Bancshares by 591.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider's stock valued at $129,000 after acquiring an additional 2,524 shares in the last quarter. Franklin Resources Inc. raised its position in shares of TriCo Bancshares by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider's stock valued at $68,546,000 after purchasing an additional 37,191 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of TriCo Bancshares by 488.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,996 shares of the financial services provider's stock valued at $1,267,000 after purchasing an additional 24,068 shares during the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

TriCo Bancshares Price Performance

Shares of TriCo Bancshares stock traded down $0.30 during trading hours on Tuesday, reaching $38.52. The stock had a trading volume of 99,588 shares, compared to its average volume of 115,967. TriCo Bancshares has a twelve month low of $35.20 and a twelve month high of $51.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.27 billion, a PE ratio of 11.32 and a beta of 0.61. The stock's 50 day moving average is $39.30 and its 200 day moving average is $41.85.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its 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. The business had revenue of $98.62 million during the quarter, compared to the consensus estimate of $99.59 million. TriCo Bancshares had a return on equity of 9.28% and a net margin of 21.41%. Equities analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently declared 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, June 6th. TriCo Bancshares's dividend payout ratio is presently 38.48%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TCBK. Stephens restated an "overweight" rating and issued a $47.00 target price on shares of TriCo Bancshares in a research note on Monday, April 28th. Raymond James Financial decreased their target price on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Three investment 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 presently has an average rating of "Moderate Buy" and an average target price of $47.80.

TriCo Bancshares 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.