GSA Capital Partners LLP Buys New Shares in TriCo Bancshares $TCBK

GSA Capital Partners LLP purchased a new position in TriCo Bancshares (NASDAQ:TCBK) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,423 shares of the financial services provider’s stock, valued at approximately $1,100,000.

Several other institutional investors have also recently made changes to their positions in the stock. Fermata Advisors LLC purchased a new position in shares of TriCo Bancshares during the 2nd quarter valued at about $209,000. Parallel Advisors LLC increased its holdings in TriCo Bancshares by 88.5% in the 1st quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 676 shares in the last quarter. Bank of America Corp DE raised its stake in TriCo Bancshares by 39.4% during the 1st quarter. Bank of America Corp DE now owns 86,742 shares of the financial services provider’s stock worth $4,124,000 after acquiring an additional 24,500 shares during the period. California State Teachers Retirement System raised its stake in TriCo Bancshares by 13.3% during the 1st quarter. California State Teachers Retirement System now owns 32,720 shares of the financial services provider’s stock worth $1,556,000 after acquiring an additional 3,837 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in TriCo Bancshares by 22.8% during the first quarter. Quantinno Capital Management LP now owns 10,836 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 2,014 shares in the last quarter. Institutional investors own 59.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of TriCo Bancshares in a research report on Wednesday, July 8th. Stephens upgraded TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research note on Thursday, August 6th. Raymond James Financial cut TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Piper Sandler boosted their price objective on TriCo Bancshares from $61.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, DA Davidson dropped their price objective on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.60.

TriCo Bancshares Stock Down 0.2%

TCBK opened at $57.46 on Tuesday. The firm has a 50-day simple moving average of $55.77 and a two-hundred day simple moving average of $51.69. TriCo Bancshares has a 52 week low of $40.44 and a 52 week high of $61.71. The company has a market capitalization of $1.84 billion, a PE ratio of 13.78 and a beta of 0.60. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%.The firm had revenue of $111.88 million during the quarter, compared to analyst estimates of $110.99 million. Analysts forecast that TriCo Bancshares will post 4.28 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, June 5th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 34.53%.

TriCo Bancshares Company 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.