TriCo Bancshares (TCBK) Shares Bought by State Street Corp
State Street Corp boosted its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 5.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 424,641 shares of the financial services provider’s stock after acquiring an additional 23,302 shares during the period. State Street Corp owned 1.85% of TriCo Bancshares worth $14,928,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TCBK. FMR LLC grew its holdings in TriCo Bancshares by 45.1% during the 2nd quarter. FMR LLC now owns 697,792 shares of the financial services provider’s stock worth $24,527,000 after acquiring an additional 216,734 shares during the period. Eagle Asset Management Inc. acquired a new stake in TriCo Bancshares during the 2nd quarter worth $6,843,000. Dimensional Fund Advisors LP grew its holdings in TriCo Bancshares by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,060,054 shares of the financial services provider’s stock worth $37,664,000 after acquiring an additional 57,076 shares during the period. Vanguard Group Inc. grew its holdings in TriCo Bancshares by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 837,658 shares of the financial services provider’s stock worth $29,762,000 after acquiring an additional 44,746 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in TriCo Bancshares by 4.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 780,134 shares of the financial services provider’s stock worth $27,422,000 after acquiring an additional 34,467 shares during the period. 69.56% of the stock is owned by hedge funds and other institutional investors.
TCBK has been the subject of a number of analyst reports. Zacks Investment Research raised shares of TriCo Bancshares from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Thursday, November 2nd. BidaskClub lowered shares of TriCo Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $41.50.
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In other news, EVP Craig B. Carney sold 5,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $36.00, for a total value of $180,000.00. Following the completion of the transaction, the executive vice president now owns 18,294 shares of the company’s stock, valued at approximately $658,584. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.10% of the stock is owned by insiders.
Shares of TriCo Bancshares (NASDAQ:TCBK) opened at $41.53 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. TriCo Bancshares has a fifty-two week low of $29.01 and a fifty-two week high of $43.22. The company has a market cap of $954.36, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.90 and a beta of 0.92.
TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Tuesday, October 31st. The financial services provider reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). TriCo Bancshares had a return on equity of 10.17% and a net margin of 21.87%. The business had revenue of $57.01 million for the quarter, compared to analyst estimates of $56.99 million. equities analysts forecast that TriCo Bancshares will post 2.19 earnings per share for the current fiscal year.
TriCo Bancshares Company Profile
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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