Public Employees Retirement Association of Colorado Has $297,000 Position in TriCo Bancshares (NASDAQ:TCBK)

Public Employees Retirement Association of Colorado lessened its holdings in TriCo Bancshares (NASDAQ:TCBK) by 22.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,497 shares of the financial services provider’s stock after selling 2,214 shares during the period. Public Employees Retirement Association of Colorado’s holdings in TriCo Bancshares were worth $297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TCBK. Renaissance Technologies LLC boosted its holdings in shares of TriCo Bancshares by 8.9% during the second quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider’s stock worth $9,333,000 after purchasing an additional 19,224 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of TriCo Bancshares by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after buying an additional 50,358 shares during the period. American Century Companies Inc. grew its holdings in shares of TriCo Bancshares by 27.3% during the 2nd quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock valued at $15,975,000 after acquiring an additional 86,689 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of TriCo Bancshares by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 63,125 shares of the financial services provider’s stock valued at $2,498,000 after acquiring an additional 1,109 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new position in shares of TriCo Bancshares in the second quarter worth $1,002,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Up 0.7 %

TriCo Bancshares stock opened at $42.09 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85. TriCo Bancshares has a fifty-two week low of $29.38 and a fifty-two week high of $48.80. The firm has a fifty day moving average price of $43.69 and a two-hundred day moving average price of $39.23. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 12.83 and a beta of 0.54.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.07. TriCo Bancshares had a return on equity of 9.93% and a net margin of 21.63%. The business had revenue of $97.86 million during the quarter, compared to analysts’ expectations of $98.55 million. As a group, analysts forecast that TriCo Bancshares will post 3.3 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.14%. TriCo Bancshares’s dividend payout ratio is 40.24%.

Analyst Ratings Changes

A number of analysts recently issued reports on TCBK shares. Stephens lifted their price objective on TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $48.00 price objective (up previously from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. Piper Sandler increased their target price on shares of TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, DA Davidson raised their target price on TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.80.

Insider Buying and Selling

In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $43.11, for a total value of $149,376.15. Following the completion of the sale, the director now directly owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Michael W. Koehnen sold 1,400 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at $135,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cory W. Giese sold 3,465 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the completion of the sale, the director now owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by insiders.

About TriCo Bancshares

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.