Ieq Capital LLC Takes $710,000 Position in TriCo Bancshares $TCBK

Ieq Capital LLC bought a new position in TriCo Bancshares (NASDAQ:TCBK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,178 shares of the financial services provider’s stock, valued at approximately $710,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC lifted its stake 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 acquiring an additional 459 shares in the last quarter. Danske Bank A S purchased a new position in TriCo Bancshares during the 4th quarter valued at about $28,000. Farther Finance Advisors LLC grew its stake 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 valued at $35,000 after acquiring an additional 211 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of TriCo Bancshares in the 2nd quarter valued at about $36,000. Finally, Abound Financial LLC acquired a new position in shares of TriCo Bancshares in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Analysts Set New Price Targets

TCBK has been the subject of several research reports. Stephens upgraded shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. DA Davidson cut 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 lifted their target price on shares of TriCo Bancshares from $61.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of TriCo Bancshares in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, TriCo Bancshares currently has an average rating of “Hold” and a consensus price target of $56.60.

TriCo Bancshares Price Performance

NASDAQ TCBK opened at $53.87 on Friday. TriCo Bancshares has a fifty-two week low of $40.44 and a fifty-two week high of $61.71. The stock’s 50-day moving average is $56.29 and its two-hundred day moving average is $51.92. The firm has a market cap of $1.72 billion, a P/E ratio of 12.92 and a beta of 0.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

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

TriCo Bancshares Dividend Announcement

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