First Trust Advisors LP trimmed its stake in TriCo Bancshares (NASDAQ:TCBK) by 32.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 32,467 shares of the financial services provider’s stock after selling 15,924 shares during the quarter. First Trust Advisors LP’s holdings in TriCo Bancshares were worth $1,216,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Trexquant Investment LP purchased a new stake in shares of TriCo Bancshares in the 1st quarter worth about $205,000. Alps Advisors Inc. purchased a new stake in shares of TriCo Bancshares in the 2nd quarter worth about $501,000. Citadel Advisors LLC lifted its position in shares of TriCo Bancshares by 31.6% in the 1st quarter. Citadel Advisors LLC now owns 13,535 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 3,247 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of TriCo Bancshares in the 1st quarter worth about $512,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in shares of TriCo Bancshares by 10.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,295 shares of the financial services provider’s stock worth $644,000 after purchasing an additional 1,569 shares during the period. 54.67% of the stock is owned by hedge funds and other institutional investors.
Shares of TriCo Bancshares stock opened at $38.84 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $1.18 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 1.51 and a beta of 0.86. TriCo Bancshares has a 1 year low of $34.61 and a 1 year high of $43.79.
TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.03. The company had revenue of $58.04 million during the quarter, compared to analyst estimates of $60.99 million. TriCo Bancshares had a net margin of 18.39% and a return on equity of 10.38%. equities research analysts expect that TriCo Bancshares will post 2.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $0.17 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.75%. TriCo Bancshares’s payout ratio is 32.69%.
Several equities research analysts have recently commented on the stock. BidaskClub cut shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, June 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $43.60.
About TriCo Bancshares
TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to retail customers and small to medium-sized businesses. It accepts demand, savings, and money market accounts, as well as time deposits; and provides residential and commercial real estate mortgage, consumer, commercial, agricultural, and real estate construction loans.
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