PFG Advisors Purchases Shares of 5,034 TriCo Bancshares $TCBK

PFG Advisors purchased a new position in shares of TriCo Bancshares (NASDAQ:TCBK) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,034 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in TriCo Bancshares by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,839,668 shares of the financial services provider’s stock worth $73,532,000 after purchasing an additional 27,348 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of TriCo Bancshares by 4.4% during the 1st 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 during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of TriCo Bancshares by 0.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 464,986 shares of the financial services provider’s stock worth $18,585,000 after buying an additional 3,147 shares during the period. Curi RMB Capital LLC grew its stake in TriCo Bancshares by 4.6% in the 1st quarter. Curi RMB Capital LLC now owns 369,264 shares of the financial services provider’s stock valued at $14,759,000 after buying an additional 16,160 shares during the last quarter. Finally, Bolthouse Investments LLC raised its holdings in TriCo Bancshares by 0.7% in the 2nd quarter. Bolthouse Investments LLC now owns 356,211 shares of the financial services provider’s stock valued at $14,423,000 after acquiring an additional 2,493 shares during the period. Institutional investors and hedge funds own 59.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Piper Sandler lifted their price target on TriCo Bancshares from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Keefe, Bruyette & Woods boosted their price target on TriCo Bancshares from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. Zacks Research upgraded TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Finally, Weiss Ratings raised TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.60.

TriCo Bancshares Stock Up 0.4%

NASDAQ TCBK opened at $45.68 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 12.83 and a beta of 0.69. The company has a 50 day moving average of $44.23 and a 200-day moving average of $42.41. TriCo Bancshares has a 1-year low of $35.20 and a 1-year high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.12. The business had revenue of $18.01 million for the quarter, compared to the consensus estimate of $107.08 million. TriCo Bancshares had a return on equity of 9.37% and a net margin of 21.87%. On average, equities research analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a dividend of $0.36 per share. This is an increase from TriCo Bancshares’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.44 annualized dividend and a dividend yield of 3.2%. TriCo Bancshares’s payout ratio is currently 40.45%.

TriCo Bancshares Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.