New York Life Investment Management LLC Purchases 43,148 Shares of TriCo Bancshares $TCBK

New York Life Investment Management LLC purchased a new stake in TriCo Bancshares (NASDAQ:TCBK) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 43,148 shares of the financial services provider’s stock, valued at approximately $2,209,000. New York Life Investment Management LLC owned 0.13% of TriCo Bancshares at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bell Investment Advisors Inc bought a new position in shares of TriCo Bancshares during the third quarter valued at $123,000. ProShare Advisors LLC grew its holdings in shares of TriCo Bancshares by 150.8% in the 3rd quarter. ProShare Advisors LLC now owns 9,850 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 5,923 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of TriCo Bancshares by 69.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,964 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 802 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in TriCo Bancshares by 85.3% during the 2nd quarter. Squarepoint Ops LLC now owns 20,777 shares of the financial services provider’s stock valued at $1,119,000 after purchasing an additional 9,562 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in TriCo Bancshares by 1.7% during the 2nd quarter. Allworth Financial LP now owns 129,979 shares of the financial services provider’s stock valued at $6,999,000 after purchasing an additional 2,134 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TCBK shares. Stephens raised shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research note on Thursday, August 6th. DA Davidson reiterated a “neutral” rating and issued a $55.00 target price on shares of TriCo Bancshares in a research note on Tuesday, October 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of TriCo Bancshares in a research note on Friday, October 2nd. Finally, Piper Sandler downgraded TriCo Bancshares from a “neutral” rating to a “hold” rating in a report on Monday, October 26th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.62.

TriCo Bancshares Price Performance

Shares of TCBK stock traded up $0.21 during trading hours on Friday, hitting $51.79. 88,179 shares of the company’s stock were exchanged, compared to its average volume of 278,305. TriCo Bancshares has a 52 week low of $44.38 and a 52 week high of $61.71. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 12.02 and a beta of 0.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.89 and a quick ratio of 0.87. The stock’s 50-day moving average is $52.57 and its 200-day moving average is $52.11.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.09. The business had revenue of $116.71 million during the quarter, compared to analysts’ expectations of $114.63 million. TriCo Bancshares had a return on equity of 10.48% and a net margin of 25.10%. As a group, research analysts forecast that TriCo Bancshares will post 4.39 EPS for the current year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 16th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, November 16th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 33.41%.

TriCo Bancshares Company Profile

TriCo Bancshares is a bank holding company whose principal subsidiary is Tri Counties Bank. The bank offers personal and business banking services, including checking and savings accounts, loans, credit cards, and online and mobile banking. For businesses, Tri Counties Bank provides commercial lending, deposit accounts, cash management, and related financial services. It also offers wealth management and trust services to individuals and organizations. Founded in 1975 and headquartered in Chico, California, Tri Counties Bank serves communities across Northern and Central California, including the Sacramento region and the Central Valley.