Tudor Investment Corp ET AL Increases Position in TriCo Bancshares (NASDAQ:TCBK)

Tudor Investment Corp ET AL raised its position in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 62.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,908 shares of the financial services provider's stock after buying an additional 30,405 shares during the period. Tudor Investment Corp ET AL owned about 0.24% of TriCo Bancshares worth $3,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of TCBK. Sterling Capital Management LLC grew its position in TriCo Bancshares by 800.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 896 shares in the last quarter. Aquatic Capital Management LLC grew 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. Summit Investment Advisors Inc. increased its stake in TriCo Bancshares by 8.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,347 shares of the financial services provider's stock worth $146,000 after buying an additional 258 shares during the period. Aigen Investment Management LP acquired a new stake in TriCo Bancshares during the 4th quarter worth approximately $203,000. Finally, Pictet Asset Management Holding SA purchased a new position in TriCo Bancshares in the 4th quarter valued at approximately $203,000. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Stock Performance

NASDAQ:TCBK opened at $39.65 on Friday. The firm has a market capitalization of $1.30 billion, a PE ratio of 11.46 and a beta of 0.59. 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 business's fifty day moving average price is $39.44 and its 200 day moving average price is $43.18. TriCo Bancshares has a 12 month low of $35.20 and a 12 month high of $51.06.

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 for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $98.62 million for the quarter, compared to analyst estimates of $99.59 million. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. On average, sell-side analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, March 7th. TriCo Bancshares's payout ratio is 38.48%.

Wall Street Analysts Forecast Growth

TCBK has been the topic of a number of recent research reports. Raymond James cut their price objective on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Stephens reaffirmed an "overweight" rating and issued a $47.00 price target on shares of TriCo Bancshares in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.80.

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.

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