250,000 Shares in TriCo Bancshares $TCBK Purchased by Heartland Advisors Inc.

Heartland Advisors Inc. acquired a new position in TriCo Bancshares (NASDAQ:TCBK) during the 2nd quarter, HoldingsChannel reports. The fund acquired 250,000 shares of the financial services provider’s stock, valued at approximately $13,462,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TCBK. AQR Capital Management LLC increased its stake in shares of TriCo Bancshares by 28.9% during the 1st quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider’s stock worth $1,307,000 after purchasing an additional 7,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in TriCo Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 820 shares during the period. Goldman Sachs Group Inc. grew its holdings in TriCo Bancshares by 4.4% during the first quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock valued at $25,727,000 after purchasing an additional 27,193 shares during the period. Empowered Funds LLC increased its position in TriCo Bancshares by 8.4% in the first quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock worth $2,047,000 after buying an additional 3,951 shares during the last quarter. Finally, Jane Street Group LLC increased its position in TriCo Bancshares by 280.1% in the first quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock worth $1,977,000 after buying an additional 36,443 shares during the last quarter. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Stock Down 1.1%

TriCo Bancshares stock opened at $55.07 on Friday. TriCo Bancshares has a 1-year low of $40.44 and a 1-year high of $61.71. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 13.21 and a beta of 0.60. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $56.07 and a 200 day simple moving average of $51.86.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. The business had revenue of $111.88 million for the quarter, compared to analysts’ expectations of $110.99 million. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. On average, analysts predict that TriCo Bancshares will post 4.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TCBK shares. Piper Sandler upped their price target on TriCo Bancshares from $61.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a report on Wednesday, July 8th. Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. DA Davidson lowered their price objective on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Finally, Stephens raised shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, TriCo Bancshares currently has a consensus rating of “Hold” and an average price target of $56.60.

About TriCo Bancshares

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.