Rice Hall James & Associates LLC Purchases Shares of 114,288 TriCo Bancshares $TCBK

Key Points

• Rice Hall James & Associates acquired 114,288 shares of TriCo Bancshares in the second quarter, worth approximately $6.15 million and representing about 0.36% of the company. Institutional investors collectively own 59.11% of TCBK.
• TriCo Bancshares beat quarterly earnings expectations, reporting $1.06 EPS versus the $1.03 consensus and revenue of $111.88 million. Analysts expect $4.28 in full-year EPS.
• The company maintains a quarterly dividend of $0.36, or $1.44 annually, yielding approximately 2.5%. Wall Street’s consensus rating is Hold, with an average price target of $56.60.

Rice Hall James & Associates LLC purchased a new stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 114,288 shares of the financial services provider's stock, valued at approximately $6,154,000. Rice Hall James & Associates LLC owned about 0.36% of TriCo Bancshares as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TCBK. AQR Capital Management LLC boosted its holdings in shares of TriCo Bancshares by 28.9% in the first quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider's stock worth $1,307,000 after buying an additional 7,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in TriCo Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider's stock worth $760,000 after acquiring an additional 820 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of TriCo Bancshares by 4.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider's stock worth $25,727,000 after acquiring an additional 27,193 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of TriCo Bancshares by 8.4% during the 1st quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider's stock worth $2,047,000 after acquiring an additional 3,951 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of TriCo Bancshares by 280.1% during the 1st quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider's stock valued at $1,977,000 after acquiring an additional 36,443 shares during the period. Institutional investors own 59.11% of the company's stock.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK opened at $57.46 on Tuesday. The stock has a market cap of $1.84 billion, a PE ratio of 13.78 and a beta of 0.60. TriCo Bancshares has a 1 year low of $40.44 and a 1 year high of $61.71. The firm has a fifty day moving average price of $55.77 and a 200-day moving average price of $51.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.03. The company had revenue of $111.88 million for the quarter, compared to analysts' expectations of $110.99 million. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. Equities analysts anticipate that TriCo Bancshares will post 4.28 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, June 5th. TriCo Bancshares's payout ratio is presently 34.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. DA Davidson reduced their price objective on TriCo Bancshares from $66.00 to $65.00 and set a "neutral" rating for the company in a research note on Monday, July 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of TriCo Bancshares in a research report on Wednesday, July 8th. Zacks Research lowered TriCo Bancshares from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Piper Sandler upped their price target on TriCo Bancshares from $61.00 to $63.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Finally, Raymond James Financial downgraded TriCo Bancshares from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $56.60.

TriCo Bancshares Company Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company's core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.

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