Context BH Capital Management LP lifted its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 10.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,484 shares of the financial services provider’s stock after purchasing an additional 5,004 shares during the quarter. Context BH Capital Management LP owned about 0.24% of TriCo Bancshares worth $1,915,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in TCBK. Eagle Asset Management Inc. bought a new position in shares of TriCo Bancshares during the 2nd quarter worth about $6,843,000. IronBridge Capital Management LP bought a new position in TriCo Bancshares in the 1st quarter valued at about $6,230,000. FMR LLC lifted its position in TriCo Bancshares by 20.0% in the 1st quarter. FMR LLC now owns 481,058 shares of the financial services provider’s stock valued at $17,092,000 after acquiring an additional 80,157 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in TriCo Bancshares by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,060,054 shares of the financial services provider’s stock valued at $37,664,000 after acquiring an additional 57,076 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in TriCo Bancshares by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 837,658 shares of the financial services provider’s stock valued at $29,762,000 after acquiring an additional 44,746 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.
Shares of TriCo Bancshares (NASDAQ TCBK) traded up 0.31% during trading on Tuesday, reaching $35.36. 8,799 shares of the company traded hands. The stock has a market capitalization of $810.63 million, a P/E ratio of 16.29 and a beta of 0.90. The firm’s 50 day moving average is $35.93 and its 200-day moving average is $35.46. TriCo Bancshares has a 12-month low of $25.43 and a 12-month high of $38.58.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.93%. TriCo Bancshares’s dividend payout ratio (DPR) is 31.34%.
Several equities analysts recently weighed in on TCBK shares. Zacks Investment Research cut shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. BidaskClub cut shares of TriCo Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Finally, ValuEngine raised shares of TriCo Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. TriCo Bancshares presently has an average rating of “Hold” and a consensus target price of $38.50.
In related news, EVP Craig B. Carney sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $36.00, for a total transaction of $180,000.00. Following the transaction, the executive vice president now owns 18,294 shares in the company, valued at $658,584. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.10% of the stock is owned by corporate insiders.
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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