Sweeney & Michel LLC purchased a new stake in TriCo Bancshares (NASDAQ:TCBK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 124,170 shares of the financial services provider's stock, valued at approximately $4,963,000. TriCo Bancshares accounts for 2.0% of Sweeney & Michel LLC's investment portfolio, making the stock its 15th biggest holding. Sweeney & Michel LLC owned about 0.38% of TriCo Bancshares as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently made changes to their positions in the company. Barclays PLC boosted its holdings in shares of TriCo Bancshares by 127.0% in the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider's stock valued at $2,468,000 after acquiring an additional 32,379 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of TriCo Bancshares by 51.8% in the fourth quarter. Deutsche Bank AG now owns 30,525 shares of the financial services provider's stock valued at $1,334,000 after acquiring an additional 10,422 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of TriCo Bancshares by 2.4% in the fourth 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of TriCo Bancshares by 488.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,996 shares of the financial services provider's stock valued at $1,267,000 after acquiring an additional 24,068 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of TriCo Bancshares in the fourth quarter valued at approximately $1,818,000. Institutional investors and hedge funds own 59.11% of the company's stock.
Analyst Ratings Changes
A number of analysts recently weighed in on TCBK shares. Keefe, Bruyette & Woods reduced 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 report on Monday, April 28th. Stephens restated an "overweight" rating and set a $47.00 target price on shares of TriCo Bancshares in a report on Monday, April 28th. Finally, Raymond James reduced their target price on shares of TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, TriCo Bancshares currently has an average rating of "Moderate Buy" and a consensus price target of $47.80.
Check Out Our Latest Research Report on TriCo Bancshares
TriCo Bancshares Trading Up 0.3%
TriCo Bancshares stock traded up $0.10 during midday trading on Thursday, reaching $39.81. The stock had a trading volume of 24,238 shares, compared to its average volume of 106,801. The firm's fifty day simple moving average is $38.90 and its two-hundred day simple moving average is $42.38. TriCo Bancshares has a twelve month low of $35.20 and a twelve month high of $51.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 11.51 and a beta of 0.59.
TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its earnings results 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. The company had revenue of $98.62 million during the quarter, compared to analyst estimates of $99.59 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. Equities analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current fiscal year.
TriCo Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, June 6th. TriCo Bancshares's dividend payout ratio (DPR) is currently 38.48%.
About TriCo Bancshares
(
Free Report)
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.
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