Renaissance Technologies LLC Sells 24,600 Shares of TriCo Bancshares $TCBK

Renaissance Technologies LLC trimmed its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 13.6% in the first quarter, Holdings Channel.com reports. The firm owned 156,943 shares of the financial services provider’s stock after selling 24,600 shares during the quarter. Renaissance Technologies LLC’s holdings in TriCo Bancshares were worth $7,461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in TriCo Bancshares by 28.9% in the first quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider’s stock valued at $1,307,000 after buying an additional 7,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of TriCo Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock worth $760,000 after buying an additional 820 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of TriCo Bancshares by 4.4% during the first quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock worth $25,727,000 after buying an additional 27,193 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of TriCo Bancshares by 8.4% during the first quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock worth $2,047,000 after buying an additional 3,951 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of TriCo Bancshares by 280.1% during the first quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock worth $1,977,000 after buying an additional 36,443 shares in the last quarter. Institutional investors own 59.11% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TCBK. Raymond James Financial downgraded TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. DA Davidson dropped their target price on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research note on Wednesday, July 8th. Zacks Research cut TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Finally, Piper Sandler boosted their price target on TriCo Bancshares from $61.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.60.

TriCo Bancshares Price Performance

Shares of NASDAQ:TCBK opened at $58.04 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.87. TriCo Bancshares has a 52 week low of $40.33 and a 52 week high of $61.71. The firm has a market cap of $1.85 billion, a PE ratio of 13.92 and a beta of 0.60. The firm’s fifty day moving average is $54.35 and its 200-day moving average is $51.13.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.03. The business had revenue of $111.88 million during the quarter, compared to analyst estimates of $110.99 million. TriCo Bancshares had a return on equity of 10.27% and a net margin of 24.67%. Sell-side analysts predict that TriCo Bancshares will post 4.28 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, June 5th. TriCo Bancshares’s payout ratio is currently 34.53%.

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.