Y Intercept Hong Kong Ltd Buys Shares of 15,528 TriCo Bancshares $TCBK

Y Intercept Hong Kong Ltd purchased a new position in TriCo Bancshares (NASDAQ:TCBK) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,528 shares of the financial services provider’s stock, valued at approximately $738,000.

A number of other large investors have also made changes to their positions in TCBK. Farther Finance Advisors LLC boosted its position in shares of TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 211 shares in the last quarter. Federated Hermes Inc. increased its position in TriCo Bancshares by 17.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after buying an additional 290 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in TriCo Bancshares by 1.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 30,254 shares of the financial services provider’s stock valued at $1,433,000 after buying an additional 329 shares in the last quarter. Sweeney & Michel LLC raised its stake in TriCo Bancshares by 0.3% in the first quarter. Sweeney & Michel LLC now owns 126,082 shares of the financial services provider’s stock valued at $6,318,000 after buying an additional 347 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in 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 during the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Price Performance

Shares of NASDAQ TCBK opened at $53.64 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 13.58 and a beta of 0.60. The firm’s 50 day simple moving average is $51.52 and its 200-day simple moving average is $49.89. TriCo Bancshares has a 12 month low of $39.69 and a 12 month high of $55.32.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Monday, March 2nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter. TriCo Bancshares had a net margin of 23.71% and a return on equity of 9.87%. The firm had revenue of $111.21 million during the quarter. Analysts expect that TriCo Bancshares will post 4.22 EPS for the current year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a $0.36 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. TriCo Bancshares’s dividend payout ratio is 36.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TriCo Bancshares in a research report on Wednesday. Finally, Piper Sandler boosted their target price on shares of TriCo Bancshares from $59.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.60.

About TriCo Bancshares

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.