GAMMA Investing LLC Boosts Stake in TriCo Bancshares (NASDAQ:TCBK)

GAMMA Investing LLC increased its position in TriCo Bancshares (NASDAQ:TCBK) by 5,584.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,618 shares of the financial services provider’s stock after buying an additional 29,097 shares during the period. GAMMA Investing LLC owned 0.09% of TriCo Bancshares worth $1,184,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TCBK. FMR LLC lifted its position in shares of TriCo Bancshares by 18.1% in the fourth quarter. FMR LLC now owns 2,889,943 shares of the financial services provider’s stock worth $126,291,000 after buying an additional 443,858 shares in the last quarter. Bolthouse Investments LLC purchased a new stake in shares of TriCo Bancshares in the fourth quarter worth about $15,457,000. Proficio Capital Partners LLC bought a new stake in TriCo Bancshares during the fourth quarter worth approximately $1,818,000. Dimensional Fund Advisors LP raised its position in TriCo Bancshares by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider’s stock valued at $71,436,000 after purchasing an additional 39,684 shares during the period. Finally, Franklin Resources Inc. raised its position in TriCo Bancshares by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider’s stock valued at $68,546,000 after purchasing an additional 37,191 shares during the period. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TCBK has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and set a $47.00 price objective on shares of TriCo Bancshares in a research report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on TriCo Bancshares from $48.00 to $46.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. Finally, Raymond James decreased 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. Three research 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.80.

TriCo Bancshares Trading Down 3.0%

TCBK opened at $39.51 on Monday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 11.42 and a beta of 0.61. The stock’s 50 day moving average price is $39.25 and its 200-day moving average price is $41.92. TriCo Bancshares has a one year low of $35.20 and a one year high of $51.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $98.62 million for the quarter, compared to analysts’ expectations of $99.59 million. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. On average, equities analysts forecast that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.34%. TriCo Bancshares’s dividend payout ratio is 38.48%.

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; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.