Y Intercept Hong Kong Ltd Makes New $738,000 Investment in TriCo Bancshares $TCBK

Y Intercept Hong Kong Ltd acquired a new stake in TriCo Bancshares (NASDAQ:TCBK) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,528 shares of the financial services provider’s stock, valued at approximately $738,000.

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

TriCo Bancshares Price Performance

Shares of TCBK opened at $53.64 on Monday. The stock has a 50 day moving average price of $51.52 and a 200 day moving average price of $49.89. TriCo Bancshares has a one year low of $39.69 and a one year high of $55.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 13.58 and a beta of 0.60.

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

TriCo Bancshares Dividend Announcement

The firm also recently declared 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 currently 36.46%.

Analyst Ratings Changes

Several equities analysts have issued reports on TCBK shares. Zacks Research downgraded shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Piper Sandler boosted their target price on shares of TriCo Bancshares from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.60.

TriCo Bancshares Company 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.