Trexquant Investment LP Sells 19,431 Shares of TriCo Bancshares $TCBK

Trexquant Investment LP decreased its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 71.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,684 shares of the financial services provider’s stock after selling 19,431 shares during the quarter. Trexquant Investment LP’s holdings in TriCo Bancshares were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Abound Financial LLC bought a new stake in TriCo Bancshares during the 1st quarter valued at $36,000. CWM LLC increased 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 valued at $45,000 after buying an additional 415 shares during the period. KBC Group NV bought a new stake in shares of TriCo Bancshares during the first quarter valued at about $61,000. Public Employees Retirement System of Ohio increased its position in shares of TriCo Bancshares by 591.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider’s stock valued at $129,000 after buying an additional 2,524 shares during the period. Finally, Focus Partners Wealth bought a new stake in shares of TriCo Bancshares during the fourth quarter valued at about $208,000. Institutional investors own 59.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TCBK shares. Zacks Research upgraded TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 28th. DA Davidson upped their price target on TriCo Bancshares from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Piper Sandler upped their price target on TriCo Bancshares from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $45.00 price objective (up previously from $43.00) on shares of TriCo Bancshares in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, TriCo Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $47.60.

TriCo Bancshares Stock Up 0.0%

TCBK opened at $45.51 on Wednesday. The stock has a market cap of $1.48 billion, a PE ratio of 13.39 and a beta of 0.68. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. 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 $43.06 and its 200 day simple moving average is $40.97.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The business had revenue of $103.61 million for the quarter, compared to analysts’ expectations of $101.15 million. TriCo Bancshares had a return on equity of 8.99% and a net margin of 21.11%. As a group, research analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.36 dividend. This is an increase from TriCo Bancshares’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, September 5th. TriCo Bancshares’s payout ratio is currently 42.35%.

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.