Susquehanna International Group LLP decreased its holdings in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 68.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 14,315 shares of the financial services provider's stock after selling 31,683 shares during the period. Susquehanna International Group LLP's holdings in TriCo Bancshares were worth $771,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Kingsview Wealth Management LLC acquired a new stake in shares of TriCo Bancshares in the second quarter worth $260,000. Public Employees Retirement System of Ohio acquired a new position in shares of TriCo Bancshares during the 2nd quarter valued at $26,000. Bank of America Corp DE purchased a new stake in TriCo Bancshares during the 2nd quarter worth $4,456,000. Basswood Capital Management L.L.C. purchased a new stake in TriCo Bancshares during the 2nd quarter worth $7,430,000. Finally, Odyssean LLC acquired a new stake in TriCo Bancshares in the 2nd quarter valued at $422,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.
TriCo Bancshares Price Performance
Shares of NASDAQ TCBK opened at $53.38 on Tuesday. The firm's 50-day simple moving average is $56.37 and its 200 day simple moving average is $51.94. The stock has a market cap of $1.71 billion, a P/E ratio of 12.80 and a beta of 0.60. TriCo Bancshares has a fifty-two week low of $40.44 and a fifty-two week high of $61.71. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04.
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 (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.03. The firm had revenue of $111.88 million for the quarter, compared to analyst estimates of $110.99 million. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%. Equities analysts expect that TriCo Bancshares will post 4.28 EPS for the current year.
TriCo Bancshares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a $0.36 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. TriCo Bancshares's dividend payout ratio (DPR) is 34.53%.
Analyst Ratings Changes
Several research analysts have commented on the company. Raymond James Financial lowered TriCo Bancshares from an "outperform" rating to a "market perform" rating in a research report on Tuesday, July 14th. Weiss Ratings reiterated a "buy (b)" rating on shares of TriCo Bancshares in a research note on Wednesday, July 8th. Stephens upgraded TriCo Bancshares from an "equal weight" rating to an "overweight" rating in a research note on Thursday, August 6th. Piper Sandler raised their price objective on shares of TriCo Bancshares from $61.00 to $63.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Finally, Zacks Research lowered TriCo Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $56.60.
View Our Latest Research Report on TCBK
About TriCo Bancshares
(
Free Report)
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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