Sei Investments Co. lowered its holdings in TriCo Bancshares (NASDAQ:TCBK) by 30.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 16,498 shares of the financial services provider’s stock after selling 7,120 shares during the quarter. Sei Investments Co. owned approximately 0.07% of TriCo Bancshares worth $672,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TCBK. SG Americas Securities LLC purchased a new stake in TriCo Bancshares in the 2nd quarter worth approximately $129,000. Raymond James Financial Services Advisors Inc. purchased a new stake in TriCo Bancshares in the 2nd quarter worth approximately $211,000. Trexquant Investment LP purchased a new stake in TriCo Bancshares in the 2nd quarter worth approximately $243,000. Susquehanna International Group LLP purchased a new stake in TriCo Bancshares in the 2nd quarter worth approximately $245,000. Finally, Virtu KCG Holdings LLC purchased a new stake in TriCo Bancshares in the 2nd quarter worth approximately $248,000. Institutional investors and hedge funds own 68.96% of the company’s stock.
TCBK has been the subject of several research analyst reports. Zacks Investment Research upgraded TriCo Bancshares from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Thursday, November 2nd. FIG Partners cut TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 13th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $43.00 price objective on shares of TriCo Bancshares in a report on Thursday, December 14th. Finally, BidaskClub cut TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $42.67.
TriCo Bancshares (NASDAQ:TCBK) traded up $0.25 on Tuesday, hitting $38.11. The stock had a trading volume of 71,606 shares, compared to its average volume of 61,150. The stock has a market cap of $870.86, a PE ratio of 17.64, a PEG ratio of 1.74 and a beta of 0.90. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. TriCo Bancshares has a 52 week low of $32.66 and a 52 week high of $43.79.
TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Tuesday, October 31st. The financial services provider reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). The firm had revenue of $57.01 million during the quarter, compared to analysts’ expectations of $56.99 million. TriCo Bancshares had a net margin of 21.87% and a return on equity of 10.17%. sell-side analysts predict that TriCo Bancshares will post 2.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Thursday, December 14th. TriCo Bancshares’s payout ratio is presently 31.48%.
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About TriCo Bancshares
TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.
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