220,410 Shares in TriCo Bancshares $TCBK Acquired by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC has acquired 220,410 shares of TriCo Bancshares, valued at approximately $8.81 million, indicating a significant institutional interest in the company.
• Analysts have an average rating of "Moderate Buy" for TriCo Bancshares, with a consensus price target of $47.60, reflecting positive expectations for the stock's performance.
• TriCo Bancshares reported an EPS of $0.84 for the last quarter, exceeding the consensus estimate by $0.02, alongside revenue of $103.61 million, suggesting strong financial performance.

Hotchkis & Wiley Capital Management LLC acquired a new position in TriCo Bancshares (NASDAQ:TCBK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 220,410 shares of the financial services provider's stock, valued at approximately $8,810,000. Hotchkis & Wiley Capital Management LLC owned approximately 0.67% of TriCo Bancshares as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Abound Financial LLC purchased a new position in shares of TriCo Bancshares in the 1st quarter worth $36,000. CWM LLC grew its stake in shares of TriCo Bancshares by 59.2% in the 1st quarter. CWM LLC now owns 1,116 shares of the financial services provider's stock worth $45,000 after buying an additional 415 shares in the last quarter. KBC Group NV purchased a new position in shares of TriCo Bancshares in the 1st quarter worth $61,000. Aquatic Capital Management LLC grew its stake in shares of TriCo Bancshares by 129.5% in the 4th quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock worth $100,000 after buying an additional 1,295 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of TriCo Bancshares by 591.1% in 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 buying an additional 2,524 shares in the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TCBK shares. Piper Sandler lifted their price objective on shares of TriCo Bancshares from $52.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Raymond James Financial reissued an "outperform" rating and issued a $45.00 price objective (up from $43.00) on shares of TriCo Bancshares in a research note on Friday, July 25th. DA Davidson lifted their price objective on shares of TriCo Bancshares from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Zacks Research raised shares of TriCo Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, TriCo Bancshares presently has an average rating of "Moderate Buy" and an average target price of $47.60.

TriCo Bancshares Trading Down 0.5%

Shares of TCBK stock traded down $0.25 on Friday, reaching $45.42. 57,137 shares of the company's stock were exchanged, compared to its average volume of 85,448. TriCo Bancshares has a 52 week low of $35.20 and a 52 week 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 0.09. The stock has a market capitalization of $1.48 billion, a PE ratio of 13.36 and a beta of 0.64. The company's fifty day simple moving average is $42.41 and its 200 day simple moving average is $40.93.

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

TriCo Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.44 annualized dividend and a yield of 3.2%. This is a boost from TriCo Bancshares's previous quarterly dividend of $0.33. TriCo Bancshares's payout ratio is 38.82%.

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.