Jupiter Topco LLC Purchases New Stake in TriCo Bancshares $TCBK

Jupiter Topco LLC purchased a new position in TriCo Bancshares (NASDAQ:TCBK) during the second quarter, HoldingsChannel.com reports. The fund purchased 13,970 shares of the financial services provider’s stock, valued at approximately $753,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hsbc Holdings PLC purchased a new stake in shares of TriCo Bancshares during the fourth quarter worth about $815,000. GSA Capital Partners LLP bought a new position in TriCo Bancshares during the 2nd quarter valued at approximately $1,100,000. Heartland Advisors Inc. bought a new position in TriCo Bancshares during the 2nd quarter valued at approximately $13,462,000. Rice Hall James & Associates LLC purchased a new stake in TriCo Bancshares in the 2nd quarter worth approximately $6,154,000. Finally, Deutsche Bank AG purchased a new stake in TriCo Bancshares in the 2nd quarter worth approximately $1,759,000. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Price Performance

Shares of NASDAQ:TCBK opened at $54.40 on Monday. The firm has a market capitalization of $1.74 billion, a P/E ratio of 13.05 and a beta of 0.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50 day moving average price of $56.41 and a 200-day moving average price of $52.04. TriCo Bancshares has a 52-week low of $40.44 and a 52-week high of $61.71.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.03. The company had revenue of $111.88 million for the quarter, compared to analyst estimates of $110.99 million. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%. As a group, equities research analysts anticipate that TriCo Bancshares will post 4.28 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, September 11th. TriCo Bancshares’s payout ratio is 34.53%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Zacks Research cut TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of TriCo Bancshares in a report on Wednesday, July 8th. Raymond James Financial downgraded shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Stephens upgraded shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th. Finally, DA Davidson dropped their target price on shares of TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, TriCo Bancshares presently has an average rating of “Hold” and an average target price of $56.60.

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.