GAMMA Investing LLC Buys 29,097 Shares of TriCo Bancshares (NASDAQ:TCBK)

GAMMA Investing LLC increased its position in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 5,584.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 0.09% of TriCo Bancshares worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Sterling Capital Management LLC increased its position in TriCo Bancshares by 800.0% in 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 during the period. Aquatic Capital Management LLC grew its stake in shares of TriCo Bancshares by 129.5% in the fourth quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock worth $100,000 after purchasing an additional 1,295 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of TriCo Bancshares by 591.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider's stock worth $129,000 after purchasing an additional 2,524 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in TriCo Bancshares by 8.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,347 shares of the financial services provider's stock valued at $146,000 after purchasing an additional 258 shares during the period. Finally, Aigen Investment Management LP bought a new position in TriCo Bancshares during the 4th quarter worth $203,000. Institutional investors own 59.11% of the company's stock.

Analyst Upgrades and Downgrades

TCBK has been the topic of several recent research reports. Stephens reaffirmed an "overweight" rating and set a $47.00 target price on shares of TriCo Bancshares in a report on Monday, April 28th. Raymond James Financial lowered their price objective on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Keefe, Bruyette & Woods reduced their target price on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.80.

TriCo Bancshares Trading Up 0.7%

TriCo Bancshares stock traded up $0.26 during trading hours on Thursday, reaching $38.78. 81,636 shares of the company's stock were exchanged, compared to its average volume of 116,114. The firm's 50 day simple moving average is $39.33 and its 200 day simple moving average is $41.81. TriCo Bancshares has a twelve month low of $35.20 and a twelve month high of $51.06. The company has a quick ratio of 0.86, a current 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 11.31 and a beta of 0.61.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.80 EPS 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 analysts' expectations of $99.59 million. TriCo Bancshares had a return on equity of 9.28% and a net margin of 21.41%. Research analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed 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 is Friday, June 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.40%. TriCo Bancshares's dividend payout ratio is currently 38.48%.

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.