Basswood Capital Management L.L.C. Acquires New Shares in TriCo Bancshares $TCBK

Basswood Capital Management L.L.C. acquired a new position in shares of TriCo Bancshares (NASDAQ:TCBK) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 137,981 shares of the financial services provider’s stock, valued at approximately $7,430,000.

A number of other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its position in shares of TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after buying an additional 459 shares in the last quarter. Danske Bank A S purchased a new stake in shares of TriCo Bancshares in the 4th quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of TriCo Bancshares in the 2nd quarter worth about $36,000. Farther Finance Advisors LLC grew its stake in TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 211 shares during the last quarter. Finally, Abound Financial LLC acquired a new stake in TriCo Bancshares in the 4th quarter valued at about $43,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Raymond James Financial downgraded shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Stephens upgraded shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. Zacks Research cut shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research note on Wednesday, July 8th. Finally, DA Davidson cut their price objective on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.60.

TriCo Bancshares Trading Up 0.5%

TriCo Bancshares stock opened at $54.15 on Thursday. The stock has a market cap of $1.73 billion, a PE ratio of 12.99 and a beta of 0.60. The stock has a 50-day moving average price of $56.24 and a 200 day moving average price of $51.91. TriCo Bancshares has a 52 week low of $40.44 and a 52 week high of $61.71. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.03. The firm had revenue of $111.88 million during the quarter, compared to the consensus estimate of $110.99 million. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. Equities research analysts predict that TriCo Bancshares will post 4.28 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 11th. TriCo Bancshares’s payout ratio is currently 34.53%.

TriCo Bancshares Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.