First Trust Advisors LP raised its position in TriCo Bancshares (NASDAQ:TCBK) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 32,808 shares of the financial services provider’s stock after buying an additional 72 shares during the period. First Trust Advisors LP owned 0.14% of TriCo Bancshares worth $906,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in TCBK. Huntington Asset Advisors Inc. acquired a new position in shares of TriCo Bancshares during the first quarter worth about $149,000. Virginia Retirement System acquired a new position in shares of TriCo Bancshares during the first quarter worth about $306,000. Context BH Capital Management LP boosted its position in shares of TriCo Bancshares by 46.5% in the second quarter. Context BH Capital Management LP now owns 14,485 shares of the financial services provider’s stock worth $400,000 after buying an additional 4,600 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in shares of TriCo Bancshares during the second quarter worth about $430,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of TriCo Bancshares by 2.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 16,964 shares of the financial services provider’s stock worth $430,000 after buying an additional 480 shares during the last quarter. Institutional investors own 66.43% of the company’s stock.
TriCo Bancshares (NASDAQ:TCBK) traded down 0.45% during trading on Friday, hitting $26.44. 11,161 shares of the stock were exchanged. TriCo Bancshares has a 12-month low of $23.47 and a 12-month high of $29.65. The firm has a market cap of $603.41 million, a PE ratio of 13.77 and a beta of 1.06. The stock’s 50-day moving average price is $26.69 and its 200-day moving average price is $26.82.
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 Zacks’ 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%. On average, equities analysts expect that TriCo Bancshares will post $1.84 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, September 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.26%. TriCo Bancshares’s dividend payout ratio is currently 31.09%.
A number of equities analysts have issued reports on the stock. FIG Partners cut shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 2nd. Zacks Investment Research raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lowered shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $30.00 to $29.00 in a research report on Friday, July 29th.
In other TriCo Bancshares news, COO Carol A. Ward sold 3,944 shares of TriCo Bancshares stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig B. Carney sold 4,679 shares of TriCo Bancshares stock in a transaction on Friday, September 9th. The shares were sold at an average price of $27.01, for a total value of $126,379.79. Following the transaction, the executive vice president now directly owns 10,288 shares of the company’s stock, valued at $277,878.88. The disclosure for this sale can be found here. Company insiders own 10.60% 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.
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