FMR LLC decreased its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 6.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,932,454 shares of the financial services provider’s stock after selling 130,914 shares during the period. FMR LLC owned 6.35% of TriCo Bancshares worth $72,370,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in TriCo Bancshares during the second quarter valued at approximately $110,000. Trexquant Investment LP acquired a new position in shares of TriCo Bancshares in the 1st quarter worth approximately $205,000. Alpine Woods Capital Investors LLC acquired a new position in shares of TriCo Bancshares in the 2nd quarter worth approximately $262,000. Virginia Retirement Systems ET AL acquired a new position in shares of TriCo Bancshares in the 2nd quarter worth approximately $386,000. Finally, Alps Advisors Inc. acquired a new position in shares of TriCo Bancshares in the 2nd quarter worth approximately $501,000. 53.74% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the company. BidaskClub raised TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, September 8th. Zacks Investment Research upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, ValuEngine cut shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.60.
Shares of TriCo Bancshares stock traded down $0.99 during trading hours on Friday, reaching $35.13. 104,304 shares of the company’s stock were exchanged, compared to its average volume of 81,044. TriCo Bancshares has a fifty-two week low of $34.50 and a fifty-two week high of $43.79. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 1.51 and a beta of 0.82.
TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, July 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.03. The business had revenue of $58.04 million during the quarter, compared to the consensus estimate of $60.99 million. TriCo Bancshares had a net margin of 18.39% and a return on equity of 10.38%. As a group, sell-side analysts expect that TriCo Bancshares will post 2.56 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.94%. TriCo Bancshares’s dividend payout ratio is presently 32.69%.
About TriCo Bancshares
TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to retail customers and small to medium-sized businesses. It accepts demand, savings, and money market accounts, as well as time deposits; and provides residential and commercial real estate mortgage, consumer, commercial, agricultural, and real estate construction loans.
Featured Article: Why do companies issue stock splits?
Receive News & Ratings for TriCo Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriCo Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.