Ieq Capital LLC Purchases Shares of 13,178 TriCo Bancshares $TCBK

Ieq Capital LLC purchased a new stake in shares of TriCo Bancshares (NASDAQ:TCBK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,178 shares of the financial services provider’s stock, valued at approximately $710,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC grew its holdings in TriCo Bancshares by 337.5% in the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after buying an additional 459 shares in the last quarter. Danske Bank A S bought a new stake in TriCo Bancshares during the 4th quarter valued at $28,000. Farther Finance Advisors LLC boosted its position in TriCo Bancshares by 40.3% during the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 211 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in TriCo Bancshares during the 2nd quarter worth $36,000. Finally, Abound Financial LLC bought a new position in shares of TriCo Bancshares in the fourth quarter worth $43,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Trading Down 0.5%

Shares of NASDAQ TCBK opened at $53.87 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. TriCo Bancshares has a 12 month low of $40.44 and a 12 month high of $61.71. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 12.92 and a beta of 0.60. The business has a fifty day simple moving average of $56.29 and a 200-day simple moving average of $51.92.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%.The firm had revenue of $111.88 million for the quarter, compared to analysts’ expectations of $110.99 million. Sell-side analysts predict that TriCo Bancshares will post 4.28 EPS for the current year.

TriCo Bancshares Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 11th. TriCo Bancshares’s dividend payout ratio (DPR) is 34.53%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TCBK shares. Stephens raised TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th. DA Davidson decreased their target price on shares of TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Piper Sandler increased their target price on shares of TriCo Bancshares from $61.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Raymond James Financial cut shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 14th. Finally, Zacks Research downgraded shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.60.

TriCo Bancshares Company 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.