According to Zacks, “TriCo Bancshares is a bank holding company for Tri Counties Bank. The Bank conducts a commercial banking business including accepting demand, savings and time deposits and making commercial, real estate, and consumer loans. “
Several other research analysts have also weighed in on the company. FIG Partners lowered TriCo Bancshares from an outperform rating to a market perform rating in a research report on Tuesday, August 2nd. Keefe, Bruyette & Woods lowered TriCo Bancshares from an outperform rating to a market perform rating and lowered their price target for the stock from $30.00 to $29.00 in a research report on Friday, July 29th.
Shares of TriCo Bancshares (NASDAQ:TCBK) traded down 0.320% during midday trading on Wednesday, reaching $26.455. The company’s stock had a trading volume of 5,301 shares. The company has a 50-day moving average price of $26.68 and a 200-day moving average price of $26.82. The firm has a market cap of $603.76 million, a price-to-earnings ratio of 13.779 and a beta of 1.06. TriCo Bancshares has a 12 month low of $23.47 and a 12 month high of $29.65.
TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.10. TriCo Bancshares had a return on equity of 9.65% and a net margin of 20.72%. Equities analysts expect that TriCo Bancshares will post $1.84 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, September 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.26%. TriCo Bancshares’s dividend payout ratio is currently 31.09%.
In other news, COO Carol A. Ward sold 3,944 shares of TriCo Bancshares stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $28.11, for a total transaction of $110,865.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig B. Carney sold 4,679 shares of TriCo Bancshares stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $27.01, for a total value of $126,379.79. Following the transaction, the executive vice president now owns 10,288 shares of the company’s stock, valued at $277,878.88. The disclosure for this sale can be found here. Insiders own 10.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in shares of TriCo Bancshares by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,947 shares of the financial services provider’s stock valued at $1,903,000 after buying an additional 924 shares in the last quarter. Paloma Partners Management Co purchased a new stake in TriCo Bancshares during the second quarter valued at about $204,000. Panagora Asset Management Inc. increased its stake in TriCo Bancshares by 6.6% in the second quarter. Panagora Asset Management Inc. now owns 257,058 shares of the financial services provider’s stock valued at $7,095,000 after buying an additional 16,024 shares during the period. Guggenheim Capital LLC increased its stake in TriCo Bancshares by 0.4% in the second quarter. Guggenheim Capital LLC now owns 33,037 shares of the financial services provider’s stock valued at $912,000 after buying an additional 148 shares during the period. Finally, KCG Holdings Inc. purchased a new stake in TriCo Bancshares during the second quarter valued at about $223,000. Institutional investors own 66.43% of the company’s stock.
About TriCo Bancshares
TriCo Bancshares is the bank holding company of Tri Counties Bank (the Bank). The Company operates through community banking segment. The Bank is engaged in the general commercial banking business in approximately 30 counties in Northern and Central California. The Bank operates from over 50 traditional branches and over 10 in-store branches.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.