TriCo Bancshares (TCBK) Stake Increased by Federated Investors Inc. PA
Federated Investors Inc. PA lifted its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,701 shares of the financial services provider’s stock after buying an additional 35 shares during the quarter. Federated Investors Inc. PA owned about 0.05% of TriCo Bancshares worth $411,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of TriCo Bancshares during the 2nd quarter worth approximately $129,000. ClariVest Asset Management LLC acquired a new stake in shares of TriCo Bancshares during the 1st quarter worth approximately $228,000. Trexquant Investment LP acquired a new stake in shares of TriCo Bancshares during the 2nd quarter worth approximately $243,000. Karp Capital Management Corp acquired a new stake in shares of TriCo Bancshares during the 1st quarter worth approximately $245,000. Finally, Aperio Group LLC grew its position in shares of TriCo Bancshares by 13.1% during the 2nd quarter. Aperio Group LLC now owns 7,796 shares of the financial services provider’s stock worth $274,000 after buying an additional 901 shares during the period. 68.87% of the stock is owned by institutional investors.
In related news, EVP Craig B. Carney sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $36.00, for a total transaction of $180,000.00. Following the completion of the transaction, the executive vice president now owns 18,294 shares in the company, valued at $658,584. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 9.10% of the stock is owned by corporate insiders.
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Shares of TriCo Bancshares (TCBK) opened at 36.50 on Friday. TriCo Bancshares has a 12 month low of $25.43 and a 12 month high of $38.58. The stock’s 50 day moving average is $35.88 and its 200 day moving average is $35.45. The firm has a market cap of $836.76 million, a P/E ratio of 16.82 and a beta of 0.90.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.86%. TriCo Bancshares’s dividend payout ratio is presently 31.34%.
Several brokerages have recently commented on TCBK. BidaskClub raised shares of TriCo Bancshares from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Finally, ValuEngine raised shares of TriCo Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.50.
TriCo Bancshares Profile
TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.
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