Campbell & CO Investment Adviser LLC Makes New $665,000 Investment in TriCo Bancshares $TCBK

Campbell & CO Investment Adviser 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 SEC. The firm purchased 16,432 shares of the financial services provider’s stock, valued at approximately $665,000. Campbell & CO Investment Adviser LLC owned about 0.05% of TriCo Bancshares as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of TriCo Bancshares by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,839,668 shares of the financial services provider’s stock worth $73,532,000 after buying an additional 27,348 shares during the last quarter. Assetmark Inc. purchased a new position in TriCo Bancshares in the second quarter worth about $396,000. Barnes Wealth Management Group Inc bought a new stake in shares of TriCo Bancshares during the 1st quarter valued at about $303,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of TriCo Bancshares by 64.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,642 shares of the financial services provider’s stock valued at $1,904,000 after purchasing an additional 18,646 shares during the last quarter. Finally, Curi RMB Capital LLC increased its position in shares of TriCo Bancshares by 4.6% during the 1st quarter. Curi RMB Capital LLC now owns 369,264 shares of the financial services provider’s stock valued at $14,759,000 after purchasing an additional 16,160 shares during the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Trading Up 1.6%

Shares of TriCo Bancshares stock opened at $45.74 on Friday. TriCo Bancshares has a fifty-two week low of $35.20 and a fifty-two week high of $51.06. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $1.49 billion, a P/E ratio of 12.85 and a beta of 0.69. The company has a fifty day moving average of $44.23 and a 200 day moving average of $42.48.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.92 by $0.12. TriCo Bancshares had a return on equity of 9.37% and a net margin of 21.87%.The business had revenue of $107.56 million for the quarter, compared to the consensus estimate of $107.08 million. On average, sell-side analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a dividend of $0.36 per share. This is an increase from TriCo Bancshares’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.44 dividend on an annualized basis and a yield of 3.1%. TriCo Bancshares’s payout ratio is 40.45%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TCBK. Raymond James Financial restated an “outperform” rating and set a $46.00 target price (up from $45.00) on shares of TriCo Bancshares in a research report on Friday, October 24th. Keefe, Bruyette & Woods boosted their price objective on shares of TriCo Bancshares from $46.00 to $50.00 and gave the company a “market perform” rating in a research report on Monday, October 27th. Wall Street Zen upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. DA Davidson lifted their target price on TriCo Bancshares from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Finally, Weiss Ratings upgraded TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, TriCo Bancshares presently has an average rating of “Moderate Buy” and an average target price of $48.60.

About TriCo Bancshares

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.