PFG Advisors Invests $204,000 in TriCo Bancshares $TCBK

PFG Advisors bought a new stake in TriCo Bancshares (NASDAQ:TCBK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,034 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other large investors have also bought and sold shares of TCBK. Teacher Retirement System of Texas increased its holdings in TriCo Bancshares by 22.0% during the 1st quarter. Teacher Retirement System of Texas now owns 10,344 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 1,864 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of TriCo Bancshares during the first quarter worth $351,000. CWM LLC increased its stake in shares of TriCo Bancshares by 59.2% in 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 in the last quarter. XTX Topco Ltd acquired a new stake in shares of TriCo Bancshares in the first quarter valued at $361,000. Finally, Vanguard Group Inc. raised its holdings in shares of TriCo Bancshares by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,839,668 shares of the financial services provider’s stock valued at $73,532,000 after buying an additional 27,348 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors.

TriCo Bancshares Stock Up 0.4%

Shares of NASDAQ:TCBK opened at $45.68 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 12.83 and a beta of 0.69. The company has a 50 day moving average of $44.23 and a 200-day moving average of $42.41. TriCo Bancshares has a one year low of $35.20 and a one year high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, October 23rd. The financial services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.12. The firm had revenue of $18.01 million for the quarter, compared to analyst estimates of $107.08 million. TriCo Bancshares had a return on equity of 9.37% and a net margin of 21.87%. On average, sell-side analysts forecast that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, September 5th. This is a boost from TriCo Bancshares’s previous quarterly dividend of $0.33. TriCo Bancshares’s dividend payout ratio (DPR) is currently 40.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings raised shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Zacks Research upgraded shares of TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. DA Davidson raised their price target on shares of TriCo Bancshares from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price objective on shares of TriCo Bancshares from $46.00 to $50.00 and gave the stock a “market perform” rating in a research report on Monday, October 27th. Finally, Piper Sandler increased their price objective on TriCo Bancshares from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, TriCo Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.60.

About TriCo Bancshares

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.