First Trust Advisors LP increased its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 22.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,166 shares of the financial services provider’s stock after acquiring an additional 13,432 shares during the period. First Trust Advisors LP owned about 0.32% of TriCo Bancshares worth $2,537,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its holdings in TriCo Bancshares by 51.7% during the first quarter. Acrospire Investment Management LLC now owns 2,962 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 1,010 shares in the last quarter. Systematic Financial Management LP bought a new stake in TriCo Bancshares during the first quarter worth about $1,414,000. Sei Investments Co. raised its holdings in TriCo Bancshares by 4.2% during the first quarter. Sei Investments Co. now owns 21,072 shares of the financial services provider’s stock worth $749,000 after acquiring an additional 853 shares in the last quarter. IronBridge Capital Management LP bought a new stake in TriCo Bancshares during the first quarter worth about $6,230,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in TriCo Bancshares by 5.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 79,424 shares of the financial services provider’s stock worth $2,822,000 after acquiring an additional 3,933 shares in the last quarter. Institutional investors and hedge funds own 69.62% of the company’s stock.
Several analysts recently issued reports on TCBK shares. Zacks Investment Research upgraded TriCo Bancshares from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Wednesday, August 2nd. ValuEngine upgraded TriCo Bancshares from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub lowered TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. TriCo Bancshares has an average rating of “Hold” and a consensus target price of $38.50.
Shares of TriCo Bancshares (TCBK) opened at 34.08 on Friday. TriCo Bancshares has a 12-month low of $25.43 and a 12-month high of $38.58. The company’s 50-day moving average price is $36.01 and its 200 day moving average price is $35.56. The company has a market cap of $781.28 million, a price-to-earnings ratio of 15.71 and a beta of 0.90.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.17 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.68 annualized dividend and a yield of 2.00%. TriCo Bancshares’s payout ratio is 31.34%.
In related news, EVP Craig B. Carney sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the transaction, the executive vice president now owns 23,998 shares of the company’s stock, valued at approximately $893,925.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.10% of the stock is currently owned by company insiders.
About TriCo Bancshares
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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