Krilogy Financial LLC Purchases Shares of 11,650 TriCo Bancshares $TCBK

Krilogy Financial LLC acquired a new position in shares of TriCo Bancshares (NASDAQ:TCBK) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 11,650 shares of the financial services provider’s stock, valued at approximately $576,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. North Reef Capital Management LP acquired a new stake in shares of TriCo Bancshares in the 4th quarter valued at $22,994,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of TriCo Bancshares during the 3rd quarter worth about $6,972,000. Millennium Management LLC lifted its holdings in TriCo Bancshares by 292.7% during the 3rd quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock valued at $6,009,000 after purchasing an additional 100,858 shares during the last quarter. FJ Capital Management LLC bought a new position in TriCo Bancshares during the 4th quarter valued at about $4,381,000. Finally, Jain Global LLC acquired a new position in TriCo Bancshares in the fourth quarter valued at about $3,613,000. 59.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TCBK. Zacks Research cut shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Piper Sandler lifted their target price on shares of TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.60.

TriCo Bancshares Stock Up 0.7%

Shares of NASDAQ:TCBK opened at $53.91 on Friday. TriCo Bancshares has a 12 month low of $39.69 and a 12 month high of $54.17. The company’s 50-day moving average price is $50.76 and its two-hundred day moving average price is $49.58. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.72 billion, a P/E ratio of 13.65 and a beta of 0.60.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Monday, March 2nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter. The company had revenue of $111.21 million for the quarter. TriCo Bancshares had a net margin of 23.71% and a return on equity of 9.87%. As a group, research analysts forecast that TriCo Bancshares will post 4.22 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, June 5th. TriCo Bancshares’s dividend payout ratio (DPR) is 36.46%.

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.