TriCo Bancshares (NASDAQ:TCBK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in TriCo Bancshares (NASDAQ:TCBK) by 33.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,811 shares of the financial services provider’s stock after selling 2,387 shares during the period. Federated Hermes Inc.’s holdings in TriCo Bancshares were worth $207,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Quantbot Technologies LP lifted its stake in TriCo Bancshares by 49.6% during the third quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 1,631 shares in the last quarter. Aigen Investment Management LP acquired a new position in TriCo Bancshares during the third quarter worth $213,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in TriCo Bancshares by 39.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,215 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 2,024 shares in the last quarter. Principal Financial Group Inc. acquired a new position in TriCo Bancshares during the third quarter worth $281,000. Finally, Fermata Advisors LLC purchased a new stake in shares of TriCo Bancshares during the third quarter worth $329,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TCBK has been the topic of a number of recent research reports. Raymond James upped their price objective on TriCo Bancshares from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. StockNews.com raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. DA Davidson cut their price objective on TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Finally, Keefe, Bruyette & Woods cut their price objective on TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating on the stock in a research report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, TriCo Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

TriCo Bancshares Stock Performance

NASDAQ:TCBK opened at $37.47 on Monday. The firm has a market capitalization of $1.24 billion, a PE ratio of 11.42 and a beta of 0.54. The business’s fifty day moving average price is $34.44 and its 200 day moving average price is $36.31. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. TriCo Bancshares has a 12 month low of $28.66 and a 12 month high of $45.84.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. The firm had revenue of $131.19 million for the quarter, compared to analyst estimates of $99.50 million. TriCo Bancshares had a return on equity of 9.87% and a net margin of 21.25%. On average, sell-side analysts anticipate that TriCo Bancshares will post 3.2 earnings per share for the current fiscal year.

TriCo Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.52%. The ex-dividend date was Thursday, March 7th. This is a positive change from TriCo Bancshares’s previous quarterly dividend of $0.30. TriCo Bancshares’s dividend payout ratio is 40.24%.

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.