TriCo Bancshares (TCBK) Position Trimmed by River Oaks Capital LLC
River Oaks Capital LLC decreased its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,400 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. River Oaks Capital LLC’s holdings in TriCo Bancshares were worth $260,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in TCBK. SG Americas Securities LLC bought a new stake in TriCo Bancshares during the 2nd quarter valued at approximately $129,000. ClariVest Asset Management LLC bought a new stake in TriCo Bancshares during the 1st quarter valued at approximately $228,000. Trexquant Investment LP bought a new stake in TriCo Bancshares during the 2nd quarter valued at approximately $243,000. Karp Capital Management Corp bought a new stake in TriCo Bancshares during the 1st quarter valued at approximately $245,000. Finally, Aperio Group LLC boosted its stake in TriCo Bancshares by 13.1% during the 2nd quarter. Aperio Group LLC now owns 7,796 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 901 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.
Shares of TriCo Bancshares (NASDAQ:TCBK) traded up 1.15% during mid-day trading on Friday, hitting $36.92. The company’s stock had a trading volume of 41,869 shares. TriCo Bancshares has a 1-year low of $25.43 and a 1-year high of $38.58. The company has a 50-day moving average of $35.88 and a 200 day moving average of $35.45. The company has a market cap of $846.39 million, a price-to-earnings ratio of 17.01 and a beta of 0.90.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.17 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.84%. TriCo Bancshares’s dividend payout ratio (DPR) is 31.34%.
In other news, EVP Craig B. Carney sold 5,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $36.00, for a total value of $180,000.00. Following the completion of the sale, the executive vice president now owns 18,294 shares in the company, valued at $658,584. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 9.10% of the company’s stock.
TCBK has been the subject of several recent analyst reports. Zacks Investment Research downgraded TriCo Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. ValuEngine upgraded TriCo Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded TriCo Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $39.00.
About TriCo Bancshares
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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