XTX Topco Ltd Makes New $361,000 Investment in TriCo Bancshares (NASDAQ:TCBK)

Key Points

• XTX Topco Ltd has invested $361,000 in TriCo Bancshares, acquiring 9,034 shares in the first quarter.
• Deutsche Bank AG increased its stake in TriCo Bancshares by 51.8%, while GAMMA Investing LLC raised its stake an impressive 5,584.8% in the same period.
• Analysts have set a consensus target price of $47.60 for TriCo Bancshares, indicating a generally favorable outlook with multiple brokerages rating the stock as a "Moderate Buy."

XTX Topco Ltd purchased a new stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 9,034 shares of the financial services provider's stock, valued at approximately $361,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TCBK. Abound Financial LLC acquired a new stake in shares of TriCo Bancshares during the first quarter worth $36,000. Sterling Capital Management LLC raised its position in shares of TriCo Bancshares by 800.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider's stock worth $44,000 after purchasing an additional 896 shares during the period. CWM LLC raised its position in shares of TriCo Bancshares by 59.2% during the first quarter. CWM LLC now owns 1,116 shares of the financial services provider's stock worth $45,000 after purchasing an additional 415 shares during the period. KBC Group NV purchased a new stake in shares of TriCo Bancshares in the first quarter valued at $61,000. Finally, Aquatic Capital Management LLC lifted its holdings in shares of TriCo Bancshares by 129.5% in the fourth quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock valued at $100,000 after purchasing an additional 1,295 shares in the last quarter. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Stock Down 2.1%

Shares of NASDAQ:TCBK traded down $0.91 during midday trading on Thursday, hitting $42.84. 16,512 shares of the stock were exchanged, compared to its average volume of 104,452. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a 52-week low of $35.20 and a 52-week high of $51.06. The business's fifty day simple moving average is $41.38 and its two-hundred day simple moving average is $40.97. The company has a market capitalization of $1.39 billion, a PE ratio of 12.60 and a beta of 0.64.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. TriCo Bancshares had a return on equity of 8.99% and a net margin of 21.11%. The business had revenue of $103.61 million during the quarter, compared to analyst estimates of $101.15 million. As a group, research analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, June 6th. TriCo Bancshares's dividend payout ratio is presently 38.82%.

Analyst Upgrades and Downgrades

TCBK has been the subject of a number of research analyst reports. Stephens restated an "overweight" rating and issued a $47.00 target price on shares of TriCo Bancshares in a report on Monday, April 28th. Piper Sandler increased their target price on TriCo Bancshares from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods reduced their target price on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Raymond James Financial restated an "outperform" rating and issued a $45.00 target price (up previously from $43.00) on shares of TriCo Bancshares in a report on Friday, July 25th. Finally, DA Davidson increased their target price on TriCo Bancshares from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, TriCo Bancshares currently has a consensus rating of "Moderate Buy" and an average price target of $47.60.

TriCo Bancshares 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.