Vanguard Group Inc. Raises Stake in TriCo Bancshares (TCBK)
Vanguard Group Inc. grew its position in TriCo Bancshares (NASDAQ:TCBK) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 873,001 shares of the financial services provider’s stock after buying an additional 35,343 shares during the quarter. Vanguard Group Inc. owned 3.81% of TriCo Bancshares worth $30,686,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Alps Advisors Inc. grew its stake in shares of TriCo Bancshares by 0.3% in the second quarter. Alps Advisors Inc. now owns 13,390 shares of the financial services provider’s stock valued at $471,000 after buying an additional 34 shares in the last quarter. Federated Investors Inc. PA grew its stake in shares of TriCo Bancshares by 0.3% in the second quarter. Federated Investors Inc. PA now owns 11,701 shares of the financial services provider’s stock valued at $411,000 after buying an additional 35 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of TriCo Bancshares by 0.4% in the second quarter. Wells Fargo & Company MN now owns 39,785 shares of the financial services provider’s stock valued at $1,398,000 after buying an additional 141 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of TriCo Bancshares by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 55,529 shares of the financial services provider’s stock valued at $1,952,000 after buying an additional 291 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of TriCo Bancshares by 1.2% in the second quarter. Bessemer Group Inc. now owns 34,300 shares of the financial services provider’s stock valued at $1,206,000 after buying an additional 400 shares in the last quarter. 68.47% of the stock is owned by institutional investors and hedge funds.
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Shares of TriCo Bancshares (NASDAQ TCBK) opened at $39.93 on Friday. TriCo Bancshares has a one year low of $29.01 and a one year high of $43.22. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $915.82, a price-to-earnings ratio of 18.57, a PEG ratio of 1.82 and a beta of 0.92.
TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Tuesday, October 31st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). The company had revenue of $57.01 million during the quarter, compared to analysts’ expectations of $56.99 million. TriCo Bancshares had a net margin of 21.87% and a return on equity of 10.27%. sell-side analysts predict that TriCo Bancshares will post 2.19 EPS for the current fiscal year.
TCBK has been the subject of a number of research reports. Zacks Investment Research cut TriCo Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. BidaskClub cut TriCo Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. TriCo Bancshares has an average rating of “Hold” and a consensus target price of $41.50.
In related news, EVP Craig B. Carney sold 5,000 shares of TriCo Bancshares stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the transaction, the executive vice president now directly owns 23,998 shares in the company, valued at $893,925.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 9.10% of the company’s stock.
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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