Citadel Advisors LLC boosted its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 96.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,288 shares of the financial services provider’s stock after buying an additional 5,048 shares during the quarter. Citadel Advisors LLC’s holdings in TriCo Bancshares were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new position in TriCo Bancshares during the second quarter worth about $211,000. Teacher Retirement System of Texas acquired a new position in TriCo Bancshares during the fourth quarter worth about $270,000. American Century Companies Inc. acquired a new position in TriCo Bancshares during the third quarter worth about $440,000. GSA Capital Partners LLP grew its position in TriCo Bancshares by 46.4% during the third quarter. GSA Capital Partners LLP now owns 14,669 shares of the financial services provider’s stock worth $598,000 after buying an additional 4,651 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in TriCo Bancshares by 10.5% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,832 shares of the financial services provider’s stock worth $645,000 after buying an additional 1,501 shares during the period. Institutional investors own 70.68% of the company’s stock.
Several research analysts have weighed in on TCBK shares. Zacks Investment Research upgraded shares of TriCo Bancshares from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Saturday, February 3rd. FIG Partners lowered shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 13th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $45.00 price target on shares of TriCo Bancshares in a research report on Friday, December 22nd. BidaskClub lowered shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Finally, ValuEngine lowered shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. TriCo Bancshares presently has an average rating of “Hold” and an average price target of $41.00.
TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.08). The business had revenue of $57.57 million during the quarter, compared to analyst estimates of $58.45 million. TriCo Bancshares had a net margin of 17.52% and a return on equity of 9.70%. sell-side analysts predict that TriCo Bancshares will post 2.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a $0.17 dividend. The ex-dividend date is Thursday, March 15th. This represents a $0.68 annualized dividend and a dividend yield of 1.73%. TriCo Bancshares’s dividend payout ratio is presently 39.08%.
About TriCo Bancshares
TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.
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