Rice Hall James & Associates LLC Makes New $6.15 Million Investment in TriCo Bancshares $TCBK

Rice Hall James & Associates LLC acquired a new stake in shares of TriCo Bancshares (NASDAQ:TCBK) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 114,288 shares of the financial services provider’s stock, valued at approximately $6,154,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of TriCo Bancshares by 28.9% in the first quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider’s stock worth $1,307,000 after buying an additional 7,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 valued at $760,000 after acquiring an additional 820 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in TriCo Bancshares by 4.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock valued at $25,727,000 after acquiring an additional 27,193 shares during the last quarter. Empowered Funds LLC increased its holdings in TriCo Bancshares by 8.4% in the 1st quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock valued at $2,047,000 after acquiring an additional 3,951 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in TriCo Bancshares by 280.1% in the 1st quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock worth $1,977,000 after purchasing an additional 36,443 shares in the last quarter. Institutional investors own 59.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TCBK shares. Zacks Research downgraded shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research note on Wednesday, July 8th. Raymond James Financial cut TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Piper Sandler lifted their price objective on TriCo Bancshares from $61.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, DA Davidson decreased their price objective on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.60.

TriCo Bancshares Stock Performance

Shares of NASDAQ:TCBK opened at $57.46 on Tuesday. TriCo Bancshares has a 52 week low of $40.44 and a 52 week high of $61.71. The stock has a market capitalization of $1.84 billion, a P/E ratio of 13.78 and a beta of 0.60. The firm has a fifty day simple moving average of $55.77 and a two-hundred day simple moving average of $51.69. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. The firm had revenue of $111.88 million for the quarter, compared to the consensus estimate of $110.99 million. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. On average, analysts expect that TriCo Bancshares will post 4.28 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, June 5th. TriCo Bancshares’s payout ratio is presently 34.53%.

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.