BlackRock Inc. Has $59.31 Million Stake in TriCo Bancshares (TCBK)

BlackRock Inc. grew its stake in TriCo Bancshares (NASDAQ:TCBK) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,583,744 shares of the financial services provider’s stock after purchasing an additional 69,270 shares during the period. BlackRock Inc. owned approximately 6.89% of TriCo Bancshares worth $59,310,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Alps Advisors Inc. bought a new stake in shares of TriCo Bancshares in the 2nd quarter valued at approximately $501,000. Swiss National Bank raised its holdings in shares of TriCo Bancshares by 6.5% in the first quarter. Swiss National Bank now owns 36,000 shares of the financial services provider’s stock worth $1,340,000 after buying an additional 2,200 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of TriCo Bancshares by 7.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 114,866 shares of the financial services provider’s stock worth $4,302,000 after buying an additional 7,722 shares during the period. Wells Fargo & Company MN raised its holdings in shares of TriCo Bancshares by 2.8% in the first quarter. Wells Fargo & Company MN now owns 55,243 shares of the financial services provider’s stock worth $2,055,000 after buying an additional 1,505 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in shares of TriCo Bancshares by 18.6% in the second quarter. Eagle Asset Management Inc. now owns 365,045 shares of the financial services provider’s stock worth $13,670,000 after buying an additional 57,347 shares during the period. 53.74% of the stock is owned by institutional investors and hedge funds.

TCBK has been the topic of several recent analyst reports. BidaskClub upgraded TriCo Bancshares from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. Zacks Investment Research upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, ValuEngine downgraded TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. TriCo Bancshares currently has a consensus rating of “Hold” and an average target price of $43.60.

Shares of NASDAQ TCBK opened at $35.13 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.41. TriCo Bancshares has a fifty-two week low of $34.50 and a fifty-two week high of $43.79. The company has a market capitalization of $1.17 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.51 and a beta of 0.82.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.03. TriCo Bancshares had a return on equity of 10.38% and a net margin of 18.39%. The firm had revenue of $58.04 million for the quarter, compared to the consensus estimate of $60.99 million. On average, equities research analysts anticipate that TriCo Bancshares will post 2.56 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, September 13th. This represents a $0.68 annualized dividend and a yield of 1.94%. TriCo Bancshares’s payout ratio is currently 32.69%.

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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Institutional Ownership by Quarter for TriCo Bancshares (NASDAQ:TCBK)

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