MQS Management LLC Makes New $542,000 Investment in TriCo Bancshares (NASDAQ:TCBK)

MQS Management LLC acquired a new stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) during the 1st quarter, according to its most recent Form 13F filing 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 institutional investors have also recently made changes to their positions in TCBK. FMR LLC lifted its stake in shares of TriCo Bancshares by 18.1% in the 4th quarter. FMR LLC now owns 2,889,943 shares of the financial services provider's stock worth $126,291,000 after purchasing an additional 443,858 shares during the period. Bolthouse Investments LLC bought a new stake in TriCo Bancshares during the 4th quarter worth approximately $15,457,000. Sweeney & Michel LLC bought a new stake in TriCo Bancshares during the 1st quarter worth approximately $4,963,000. Proficio Capital Partners LLC bought a new stake in TriCo Bancshares during the 4th quarter worth approximately $1,818,000. Finally, Dimensional Fund Advisors LP raised its stake in TriCo Bancshares by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider's stock worth $71,436,000 after acquiring an additional 39,684 shares during the period. Hedge funds and other institutional investors own 59.11% of the company's stock.

TriCo Bancshares Price Performance

TCBK traded up $0.60 during trading on Thursday, reaching $42.58. 110,911 shares of the company traded hands, compared to its average volume of 113,765. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a 12-month low of $35.20 and a 12-month high of $51.06. The firm has a fifty day simple moving average of $40.80 and a 200 day simple moving average of $41.10. The company has a market cap of $1.40 billion, a P/E ratio of 12.41 and a beta of 0.60.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating 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 business had revenue of $98.62 million during the quarter, compared to analyst estimates of $99.59 million. On average, equities analysts forecast that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Friday, June 6th. TriCo Bancshares's dividend payout ratio (DPR) is presently 38.48%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TCBK. Stephens restated an "overweight" rating and set 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 shares of TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, TriCo Bancshares has a consensus rating of "Moderate Buy" and an average target price of $47.80.

TriCo Bancshares Company 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.