Barclays PLC raised its position in TriCo Bancshares (NASDAQ:TCBK – Free Report) by 30.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,962 shares of the financial services provider’s stock after purchasing an additional 6,675 shares during the period. Barclays PLC owned 0.09% of TriCo Bancshares worth $961,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of TCBK. American Century Companies Inc. boosted its holdings in TriCo Bancshares by 208.7% in the 1st quarter. American Century Companies Inc. now owns 45,616 shares of the financial services provider’s stock valued at $1,826,000 after purchasing an additional 30,838 shares during the period. MetLife Investment Management LLC boosted its holdings in TriCo Bancshares by 56.0% in the 1st quarter. MetLife Investment Management LLC now owns 15,038 shares of the financial services provider’s stock valued at $602,000 after purchasing an additional 5,399 shares during the period. Rhumbline Advisers boosted its holdings in TriCo Bancshares by 19.7% in the 1st quarter. Rhumbline Advisers now owns 48,261 shares of the financial services provider’s stock valued at $1,932,000 after purchasing an additional 7,933 shares during the period. Dimensional Fund Advisors LP boosted its holdings in TriCo Bancshares by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,269,618 shares of the financial services provider’s stock valued at $50,824,000 after purchasing an additional 35,630 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of TriCo Bancshares by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 1,418,186 shares of the financial services provider’s stock worth $56,770,000 after acquiring an additional 52,760 shares during the last quarter. 62.40% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently issued reports on TCBK shares. StockNews.com downgraded shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Friday, September 29th. Piper Sandler decreased their target price on shares of TriCo Bancshares from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, October 30th. Finally, Raymond James decreased their target price on shares of TriCo Bancshares from $42.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TriCo Bancshares currently has a consensus rating of “Hold” and a consensus target price of $46.25.
TriCo Bancshares Price Performance
TCBK stock opened at $36.85 on Tuesday. The firm’s 50-day moving average price is $32.75 and its two-hundred day moving average price is $34.35. TriCo Bancshares has a 12-month low of $28.66 and a 12-month high of $55.35. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 9.62 and a beta of 0.58. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.60.
TriCo Bancshares (NASDAQ:TCBK – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. TriCo Bancshares had a net margin of 26.23% and a return on equity of 11.88%. The firm had revenue of $104.11 million for the quarter, compared to analysts’ expectations of $102.45 million. As a group, equities analysts predict that TriCo Bancshares will post 3.58 earnings per share for the current year.
TriCo Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Thursday, September 7th. TriCo Bancshares’s payout ratio is 31.33%.
TriCo Bancshares Company 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; commercial loans, including agricultural loans; and real estate construction loans.
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