TriCo Bancshares (NASDAQ:TCBK) Shares Acquired by AlphaQuest LLC

AlphaQuest LLC lifted its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 23.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,971 shares of the financial services provider’s stock after purchasing an additional 3,178 shares during the quarter. AlphaQuest LLC owned about 0.05% of TriCo Bancshares worth $742,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TCBK. Point72 Asia Singapore Pte. Ltd. acquired a new stake in TriCo Bancshares in the 3rd quarter valued at approximately $28,000. Point72 DIFC Ltd acquired a new stake in TriCo Bancshares in the 3rd quarter valued at approximately $114,000. Quantbot Technologies LP acquired a new stake in TriCo Bancshares in the 3rd quarter valued at approximately $129,000. Aigen Investment Management LP acquired a new stake in TriCo Bancshares in the 4th quarter valued at approximately $203,000. Finally, Golden State Wealth Management LLC acquired a new stake in TriCo Bancshares in the 4th quarter valued at approximately $212,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TCBK has been the topic of several analyst reports. DA Davidson cut TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their target price for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods lowered their target price on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $50.75.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK opened at $40.08 on Wednesday. The stock has a fifty day moving average price of $43.42 and a two-hundred day moving average price of $44.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $1.32 billion, a P/E ratio of 11.58 and a beta of 0.55. TriCo Bancshares has a 1 year low of $31.73 and a 1 year high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. Research analysts forecast that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, March 7th. TriCo Bancshares’s payout ratio is currently 38.15%.

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. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.