California Public Employees Retirement System boosted its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 8.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,100 shares of the financial services provider’s stock after buying an additional 3,100 shares during the period. California Public Employees Retirement System owned 0.17% of TriCo Bancshares worth $1,052,000 as of its most recent filing with the SEC.
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 worth $306,000. TIAA CREF Investment Management LLC raised 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 worth $3,118,000 after buying an additional 46,375 shares during the period. BlackRock Institutional Trust Company N.A. raised 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 worth $22,501,000 after buying an additional 30,352 shares during the period. Menta Capital LLC raised 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 worth $784,000 after buying an additional 5,170 shares during the period. Finally, Huntington Asset Advisors Inc. purchased a new position in TriCo Bancshares during the first quarter worth $149,000. Hedge funds and other institutional investors own 66.43% of the company’s stock.
Shares of TriCo Bancshares (NASDAQ:TCBK) traded up 0.08% during midday trading on Monday, hitting $26.04. 2,929 shares of the company’s stock traded hands. TriCo Bancshares has a 52 week low of $23.47 and a 52 week high of $29.65. The stock has a market cap of $594.28 million, a P/E ratio of 13.56 and a beta of 1.06. The company has a 50 day moving average of $26.66 and a 200 day moving average of $26.85.
TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, September 12th. TriCo Bancshares’s dividend payout ratio is currently 31.09%.
TCBK has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Keefe, Bruyette & Woods lowered shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $30.00 to $29.00 in a research report on Friday, July 29th. Finally, FIG Partners lowered shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 2nd.
In other TriCo Bancshares news, EVP Craig B. Carney sold 4,679 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $27.01, for a total value of $126,379.79. Following the sale, the executive vice president now directly owns 10,288 shares of the company’s stock, valued at $277,878.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.60% of the company’s stock.
TriCo Bancshares Company Profile
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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