Rice Hall James & Associates LLC Takes Position in TriCo Bancshares $TCBK

Key Points

• Rice Hall James & Associates LLC initiated a new position in TriCo Bancshares, buying 95,224 shares worth about $4.53 million in the first quarter and holding 0.30% of the company.
• TriCo Bancshares reported better-than-expected quarterly earnings of $1.06 per share, topping estimates, while revenue also came in slightly ahead of forecasts at $111.88 million.
• The stock was down 2.0% on the day of the report, and analysts currently rate it a Hold overall with an average price target of $56.40.

Rice Hall James & Associates LLC bought a new stake in TriCo Bancshares (NASDAQ:TCBK - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 95,224 shares of the financial services provider's stock, valued at approximately $4,527,000. Rice Hall James & Associates LLC owned 0.30% of TriCo Bancshares at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Larson Financial Group LLC increased its holdings in TriCo Bancshares by 337.5% during the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider's stock worth $26,000 after purchasing an additional 459 shares during the period. Danske Bank A S purchased a new position in shares of TriCo Bancshares in the 4th quarter valued at about $28,000. Farther Finance Advisors LLC boosted its stake in shares of TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider's stock valued at $35,000 after buying an additional 211 shares during the period. Abound Financial LLC acquired a new position in shares of TriCo Bancshares during the fourth quarter worth about $43,000. Finally, Parallel Advisors LLC grew its position in shares of TriCo Bancshares by 88.5% during the first quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider's stock worth $68,000 after buying an additional 676 shares in the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Trading Down 2.0%

NASDAQ:TCBK opened at $58.12 on Friday. The stock has a 50-day simple moving average of $53.44 and a 200-day simple moving average of $50.70. The stock has a market cap of $1.85 billion, a P/E ratio of 13.94 and a beta of 0.60. TriCo Bancshares has a 1 year low of $39.84 and a 1 year high of $61.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.03. TriCo Bancshares had a return on equity of 10.27% and a net margin of 24.67%.The business had revenue of $111.88 million for the quarter, compared to the consensus estimate of $110.99 million. As a group, analysts anticipate that TriCo Bancshares will post 4.22 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, June 5th. TriCo Bancshares's dividend payout ratio is 36.46%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of TriCo Bancshares in a report on Wednesday, July 8th. Zacks Research downgraded shares of TriCo Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 5th. DA Davidson boosted their price target on shares of TriCo Bancshares from $55.00 to $66.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Piper Sandler downgraded shares of TriCo Bancshares from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $63.00 to $61.00 in a research report on Tuesday, July 14th. Finally, Raymond James Financial lowered shares of TriCo Bancshares from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, TriCo Bancshares currently has an average rating of "Hold" and an average price target of $56.40.

About TriCo Bancshares

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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