TriCo Bancshares (NASDAQ:TCBK) Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd reduced its position in TriCo Bancshares (NASDAQ:TCBK) by 4.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,448 shares of the financial services provider’s stock after selling 498 shares during the quarter. WINTON GROUP Ltd’s holdings in TriCo Bancshares were worth $487,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its position in shares of TriCo Bancshares by 75.2% in the second quarter. Advisor Group Holdings Inc. now owns 2,760 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 1,185 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of TriCo Bancshares in the first quarter worth approximately $200,000. Cornerstone Investment Partners LLC purchased a new position in shares of TriCo Bancshares in the second quarter worth approximately $204,000. Commonwealth Equity Services LLC purchased a new position in shares of TriCo Bancshares in the first quarter worth approximately $226,000. Finally, Arizona State Retirement System increased its position in shares of TriCo Bancshares by 3.6% in the second quarter. Arizona State Retirement System now owns 8,081 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 282 shares in the last quarter. 65.19% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently weighed in on TCBK. DA Davidson raised shares of TriCo Bancshares from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $47.00 in a research report on Tuesday, September 7th. Raymond James decreased their price target on shares of TriCo Bancshares from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, July 29th. Piper Sandler upgraded shares of TriCo Bancshares from a “neutral” rating to an “overweight” rating and set a $49.00 price target for the company in a report on Monday, August 2nd. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, August 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, TriCo Bancshares presently has a consensus rating of “Buy” and a consensus price target of $45.25.

NASDAQ:TCBK opened at $39.87 on Tuesday. TriCo Bancshares has a 12 month low of $23.38 and a 12 month high of $51.66. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 11.52 and a beta of 0.71. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $40.00 and its 200-day moving average is $44.22.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Monday, July 26th. The financial services provider reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. TriCo Bancshares had a net margin of 30.95% and a return on equity of 11.06%. The company had revenue of $83.04 million for the quarter, compared to analyst estimates of $82.60 million. Research analysts predict that TriCo Bancshares will post 3.71 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 24th. Stockholders of record on Friday, September 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Thursday, September 9th. TriCo Bancshares’s dividend payout ratio is 46.30%.

TriCo Bancshares Company Profile

TriCo Bancshares is a bank holding company, which engages in the provision of banking services to retail customers and small to medium-sized businesses. It offers personal and business accounts, personal and business loans and credit, and personal and business services. The company was founded on October 13, 1981 and is headquartered in Chico, CA.

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Institutional Ownership by Quarter for TriCo Bancshares (NASDAQ:TCBK)

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