Versor Investments LP Invests $699,000 in TriCo Bancshares (NASDAQ:TCBK)

Versor Investments LP bought a new stake in TriCo Bancshares (NASDAQ:TCBK) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,400 shares of the financial services provider’s stock, valued at approximately $699,000.

A number of other institutional investors have also recently added to or reduced their stakes in TCBK. BNP Paribas Financial Markets raised its position in TriCo Bancshares by 200.3% in the first quarter. BNP Paribas Financial Markets now owns 24,384 shares of the financial services provider’s stock valued at $897,000 after purchasing an additional 16,263 shares during the period. Russell Investments Group Ltd. lifted its position in TriCo Bancshares by 58.5% during the 1st quarter. Russell Investments Group Ltd. now owns 98,469 shares of the financial services provider’s stock worth $3,622,000 after acquiring an additional 36,362 shares in the last quarter. Quadrature Capital Ltd purchased a new position in TriCo Bancshares in the 1st quarter worth approximately $489,000. State Board of Administration of Florida Retirement System grew its position in TriCo Bancshares by 88.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,686 shares of the financial services provider’s stock valued at $614,000 after acquiring an additional 7,810 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in TriCo Bancshares by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,895 shares of the financial services provider’s stock valued at $1,063,000 after acquiring an additional 1,119 shares in the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TCBK. Stephens decreased their target price on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. DA Davidson cut shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and upped their price objective for the company from $50.00 to $53.00 in a research report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $48.00 target price (up from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. Janney Montgomery Scott reissued a “neutral” rating on shares of TriCo Bancshares in a report on Friday, July 26th. Finally, Piper Sandler lowered their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TriCo Bancshares currently has an average rating of “Hold” and a consensus price target of $48.20.

Insiders Place Their Bets

In other news, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction dated 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 transaction, the director now directly owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the sale, the director now directly owns 3,000 shares in the company, valued at approximately $135,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Cory W. Giese sold 3,465 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $43.11, for a total transaction of $149,376.15. Following the transaction, the director now directly owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.64% of the stock is owned by corporate insiders.

TriCo Bancshares Stock Down 1.1 %

NASDAQ:TCBK opened at $47.84 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 14.24 and a beta of 0.54. TriCo Bancshares has a one year low of $31.73 and a one year high of $50.63. The stock has a 50-day simple moving average of $43.59 and a 200 day simple moving average of $41.48.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. The company had revenue of $133.84 million for the quarter, compared to the consensus estimate of $98.65 million. Sell-side analysts predict that TriCo Bancshares will post 3.38 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.32 annualized dividend and a yield of 2.76%. TriCo Bancshares’s payout ratio is 39.29%.

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.