Boston Advisors LLC lowered its stake in TriCo Bancshares (NASDAQ:TCBK) by 0.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 175,418 shares of the financial services provider’s stock after selling 1,000 shares during the period. Boston Advisors LLC’s holdings in TriCo Bancshares were worth $4,842,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virginia Retirement System purchased a new position in TriCo Bancshares during the first quarter valued at $306,000. TIAA CREF Investment Management LLC boosted its position in TriCo Bancshares by 60.4% in the first quarter. TIAA CREF Investment Management LLC now owns 123,130 shares of the financial services provider’s stock valued at $3,118,000 after buying an additional 46,375 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in TriCo Bancshares by 3.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 888,679 shares of the financial services provider’s stock valued at $22,501,000 after buying an additional 30,352 shares during the last quarter. Menta Capital LLC boosted its position in TriCo Bancshares by 20.1% in the first quarter. Menta Capital LLC now owns 30,947 shares of the financial services provider’s stock valued at $784,000 after buying an additional 5,170 shares during the last quarter. Finally, Huntington Asset Advisors Inc. purchased a new position in TriCo Bancshares during the first quarter valued at $149,000. Hedge funds and other institutional investors own 66.43% of the company’s stock.
Shares of TriCo Bancshares (NASDAQ:TCBK) traded down 0.91% on Thursday, hitting $26.25. The company had a trading volume of 44,729 shares. The company has a 50 day moving average price of $26.60 and a 200 day moving average price of $26.78. TriCo Bancshares has a 1-year low of $23.47 and a 1-year high of $29.65. The firm has a market capitalization of $599.08 million, a price-to-earnings ratio of 13.67 and a beta of 1.08.
TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by $0.10. TriCo Bancshares had a net margin of 20.72% and a return on equity of 9.65%. On average, equities analysts forecast that TriCo Bancshares will post $1.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, September 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, September 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.29%. TriCo Bancshares’s payout ratio is 31.09%.
TCBK has been the topic of several recent research reports. Zacks Investment Research cut TriCo Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Keefe, Bruyette & Woods cut TriCo Bancshares from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $30.00 to $29.00 in a research report on Friday, July 29th. Finally, FIG Partners cut TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 2nd.
In related news, EVP Craig B. Carney sold 4,679 shares of the business’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $27.01, for a total transaction of $126,379.79. Following the sale, the executive vice president now directly owns 10,288 shares in the company, valued at approximately $277,878.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Carol A. Ward sold 3,944 shares of the business’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $28.11, for a total value of $110,865.84. The disclosure for this sale can be found here. Corporate insiders own 10.60% of the company’s stock.
About TriCo Bancshares
TriCo Bancshares is the bank holding company of Tri Counties Bank (the Bank). The Company operates through community banking segment. The Bank is engaged in the general commercial banking business in approximately 30 counties in Northern and Central California. The Bank operates from over 50 traditional branches and over 10 in-store branches.
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