16,200 Shares in TriCo Bancshares $TCBK Bought by Denali Advisors LLC

Denali Advisors LLC purchased a new stake in TriCo Bancshares (NASDAQ:TCBK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,200 shares of the financial services provider’s stock, valued at approximately $719,000.

Several other hedge funds also recently modified their holdings of TCBK. Federated Hermes Inc. boosted its stake in shares of TriCo Bancshares by 17.7% during the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 290 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in TriCo Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 820 shares in the last quarter. CWM LLC boosted its position in shares of TriCo Bancshares by 74.0% during the 3rd quarter. CWM LLC now owns 2,001 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 851 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in TriCo Bancshares in the third quarter valued at approximately $58,000. Finally, Legal & General Group Plc increased its stake in TriCo Bancshares by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 34,999 shares of the financial services provider’s stock valued at $1,417,000 after purchasing an additional 1,420 shares in the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

NASDAQ:TCBK opened at $50.30 on Tuesday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 13.56 and a beta of 0.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. TriCo Bancshares has a 1-year low of $35.20 and a 1-year high of $53.18. The business has a 50 day moving average of $49.44 and a 200 day moving average of $46.27.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.01 by $0.02. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.53%. The company had revenue of $109.40 million for the quarter, compared to analyst estimates of $108.19 million. On average, sell-side analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, December 5th. TriCo Bancshares’s dividend payout ratio is 38.81%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TCBK. Piper Sandler boosted their price objective on TriCo Bancshares from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. DA Davidson raised their price objective on shares of TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Keefe, Bruyette & Woods raised their target price on TriCo Bancshares from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TriCo Bancshares in a research note on Monday, December 29th. Finally, Stephens boosted their price objective on TriCo Bancshares from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, TriCo Bancshares currently has an average rating of “Hold” and a consensus target price of $53.80.

About TriCo Bancshares

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.