Aperio Group LLC purchased a new stake in shares of TriCo Bancshares (NASDAQ:TCBK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,109 shares of the financial services provider’s stock, valued at approximately $231,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Denali Advisors LLC bought a new position in TriCo Bancshares in the 2nd quarter worth $38,000. NEXT Financial Group Inc purchased a new stake in shares of TriCo Bancshares during the 2nd quarter valued at about $138,000. SG Americas Securities LLC purchased a new stake in shares of TriCo Bancshares during the 1st quarter valued at about $182,000. BNP Paribas Arbitrage SA boosted its holdings in shares of TriCo Bancshares by 374.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,311 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 4,192 shares during the last quarter. Finally, WBI Investments Inc. purchased a new stake in shares of TriCo Bancshares during the 2nd quarter valued at about $375,000. 60.86% of the stock is owned by institutional investors and hedge funds.
In other news, Director Michael W. Koehnen bought 15,000 shares of TriCo Bancshares stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $35.83 per share, for a total transaction of $537,450.00. Following the completion of the acquisition, the director now owns 95,732 shares of the company’s stock, valued at approximately $3,430,077.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig B. Carney sold 5,122 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $36.38, for a total transaction of $186,338.36. Following the completion of the transaction, the executive vice president now owns 20,896 shares of the company’s stock, valued at $760,196.48. The disclosure for this sale can be found here. 10.30% of the stock is owned by corporate insiders.
A number of analysts have recently issued reports on TCBK shares. ValuEngine downgraded shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Monday, July 22nd. Zacks Investment Research raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Thursday. Stephens reissued a “neutral” rating on shares of TriCo Bancshares in a report on Monday, July 29th. Raymond James dropped their price objective on shares of TriCo Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Finally, Piper Jaffray Companies assumed coverage on shares of TriCo Bancshares in a research report on Friday, July 12th. They set a “neutral” rating and a $41.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.50.
NASDAQ TCBK traded up $0.33 on Friday, hitting $36.85. 9,030 shares of the stock were exchanged, compared to its average volume of 57,466. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average price of $36.21 and a two-hundred day moving average price of $38.27. The firm has a market capitalization of $1.10 billion, a P/E ratio of 13.70, a P/E/G ratio of 1.75 and a beta of 0.87. TriCo Bancshares has a 52-week low of $31.05 and a 52-week high of $41.31.
TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. The company had revenue of $77.89 million during the quarter, compared to analyst estimates of $77.76 million. TriCo Bancshares had a net margin of 26.74% and a return on equity of 10.14%. Sell-side analysts expect that TriCo Bancshares will post 2.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.22 per share. This is a positive change from TriCo Bancshares’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, September 12th. TriCo Bancshares’s payout ratio is currently 28.25%.
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. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.
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