Deprince Race & Zollo Inc. lowered its stake in TriCo Bancshares (NASDAQ:TCBK) by 22.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,707 shares of the financial services provider’s stock after selling 45,486 shares during the period. Deprince Race & Zollo Inc. owned approximately 0.52% of TriCo Bancshares worth $5,999,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Denali Advisors LLC acquired a new stake in shares of TriCo Bancshares in the second quarter valued at approximately $38,000. NEXT Financial Group Inc bought a new position in shares of TriCo Bancshares during the 2nd quarter valued at approximately $138,000. SG Americas Securities LLC bought a new position in shares of TriCo Bancshares during the 1st quarter valued at approximately $182,000. BNP Paribas Arbitrage SA grew its position in shares of TriCo Bancshares by 374.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,311 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 4,192 shares during the period. Finally, Aperio Group LLC bought a new position in shares of TriCo Bancshares during the 2nd quarter valued at approximately $231,000. 60.86% of the stock is owned by institutional investors.
In other news, Director Michael W. Koehnen bought 15,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were acquired at an average cost of $35.83 per share, for a total transaction of $537,450.00. Following the purchase, the director now directly owns 95,732 shares of the company’s stock, valued at approximately $3,430,077.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Craig B. Carney sold 5,166 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $37.02, for a total transaction of $191,245.32. Following the completion of the sale, the executive vice president now owns 26,018 shares in the company, valued at $963,186.36. The disclosure for this sale can be found here. Corporate insiders own 10.30% of the company’s stock.
Shares of TCBK stock opened at $36.70 on Thursday. The stock has a market capitalization of $1.09 billion, a P/E ratio of 13.64, a PEG ratio of 1.73 and a beta of 0.87. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $36.21 and its 200 day moving average is $38.27. TriCo Bancshares has a 12 month low of $31.05 and a 12 month high of $41.31.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. The company had revenue of $77.89 million for the quarter, compared to analysts’ expectations of $77.76 million. TriCo Bancshares had a net margin of 26.74% and a return on equity of 10.14%. On average, equities analysts predict that TriCo Bancshares will post 2.95 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.22 per share. This is a boost from TriCo Bancshares’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Thursday, September 12th. TriCo Bancshares’s dividend payout ratio is presently 28.25%.
TCBK has been the subject of a number of research reports. Stephens reissued a “neutral” rating on shares of TriCo Bancshares in a research report on Monday, July 29th. Piper Jaffray Companies initiated coverage on shares of TriCo Bancshares in a research note on Friday, July 12th. They set a “neutral” rating and a $41.00 price target on the stock. BidaskClub upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. Raymond James dropped their price target on shares of TriCo Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Finally, ValuEngine cut shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $41.50.
TriCo Bancshares Company Profile
TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.
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