MQS Management LLC Makes New Investment in TriCo Bancshares (NASDAQ:TCBK)

MQS Management LLC acquired a new position in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,550 shares of the financial services provider's stock, valued at approximately $542,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TCBK. FMR LLC grew its stake in TriCo Bancshares by 18.1% in the 4th quarter. FMR LLC now owns 2,889,943 shares of the financial services provider's stock valued at $126,291,000 after acquiring an additional 443,858 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in TriCo Bancshares by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider's stock valued at $71,436,000 after acquiring an additional 39,684 shares during the last quarter. Franklin Resources Inc. grew its stake in 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 acquiring an additional 37,191 shares during the last quarter. Bolthouse Investments LLC acquired a new stake in TriCo Bancshares in the 4th quarter valued at about $15,457,000. Finally, Curi RMB Capital LLC grew its stake in TriCo Bancshares by 1.8% in the 4th quarter. Curi RMB Capital LLC now owns 353,104 shares of the financial services provider's stock valued at $15,431,000 after acquiring an additional 6,271 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Stephens reissued 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 cut their target price on shares of TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods cut their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $47.80.

TriCo Bancshares Stock Performance

NASDAQ TCBK traded down $1.49 on Tuesday, hitting $41.52. The stock had a trading volume of 102,506 shares, compared to its average volume of 114,039. TriCo Bancshares has a one year low of $35.20 and a one year 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 stock has a market cap of $1.36 billion, a price-to-earnings ratio of 12.10 and a beta of 0.60. The company's 50-day moving average is $40.70 and its two-hundred day moving average is $41.10.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. TriCo Bancshares had a net margin of 21.41% and a return on equity of 9.28%. The company had revenue of $98.62 million for the quarter, compared to the consensus estimate of $99.59 million. On average, analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.33 per share. The ex-dividend date was Friday, June 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.18%. TriCo Bancshares's dividend payout ratio (DPR) is 38.48%.

About TriCo Bancshares

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.