Krilogy Financial LLC Purchases Shares of 11,650 TriCo Bancshares $TCBK

Krilogy Financial LLC purchased a new stake in TriCo Bancshares (NASDAQ:TCBK) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,650 shares of the financial services provider’s stock, valued at approximately $576,000.

A number of other institutional investors and hedge funds have also modified their holdings of TCBK. North Reef Capital Management LP acquired a new position in TriCo Bancshares in the 4th quarter valued at $22,994,000. Mercer Global Advisors Inc. ADV bought a new stake in TriCo Bancshares during the third quarter valued at about $6,972,000. Millennium Management LLC boosted its holdings in TriCo Bancshares by 292.7% during the third quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock valued at $6,009,000 after acquiring an additional 100,858 shares during the period. FJ Capital Management LLC acquired a new stake in shares of TriCo Bancshares in the fourth quarter valued at about $4,381,000. Finally, Jain Global LLC bought a new position in shares of TriCo Bancshares in the fourth quarter worth about $3,613,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Trading Up 0.7%

Shares of TriCo Bancshares stock opened at $53.91 on Friday. TriCo Bancshares has a 52-week low of $39.69 and a 52-week high of $54.17. The firm has a market capitalization of $1.72 billion, a PE ratio of 13.65 and a beta of 0.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.86. The company’s fifty day moving average price is $50.76 and its two-hundred day moving average price is $49.58.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Monday, March 2nd. The financial services provider reported $1.03 EPS for the quarter. TriCo Bancshares had a net margin of 23.71% and a return on equity of 9.87%. The company had revenue of $111.21 million during the quarter. On average, analysts expect that TriCo Bancshares will post 4.22 EPS for the current year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, June 5th. TriCo Bancshares’s payout ratio is presently 36.46%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Piper Sandler boosted their price objective on TriCo Bancshares from $59.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, TriCo Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.60.

TriCo Bancshares Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.