TriCo Bancshares (NASDAQ:TCBK – Get Free Report) shares shot up 3.9% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $44.14 and last traded at $44.63. 9,848 shares traded hands during trading, a decline of 89% from the average session volume of 91,904 shares. The stock had previously closed at $42.96.
The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%.
TriCo Bancshares Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Friday, December 6th. TriCo Bancshares’s dividend payout ratio (DPR) is 39.29%.
Analysts Set New Price Targets
Check Out Our Latest Analysis on TCBK
Insider Activity
In related news, Director Cory W. Giese sold 5,100 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the transaction, the director now owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. This represents a 45.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.64% of the company’s stock.
Hedge Funds Weigh In On TriCo Bancshares
Several hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in shares of TriCo Bancshares by 839.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock valued at $5,577,000 after acquiring an additional 116,838 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in 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 worth $59,471,000 after acquiring an additional 50,358 shares during the period. Barclays PLC lifted its position in TriCo Bancshares by 127.0% during the 3rd quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock worth $2,468,000 after acquiring an additional 32,379 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of TriCo Bancshares by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock valued at $19,041,000 after buying an additional 25,817 shares during the period. Finally, Versor Investments LP acquired a new stake in shares of TriCo Bancshares in the 3rd quarter valued at approximately $699,000. Institutional investors and hedge funds own 59.11% of the company’s stock.
TriCo Bancshares Stock Up 2.5 %
The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 13.11 and a beta of 0.58. The firm has a fifty day moving average price of $45.54 and a 200 day moving average price of $44.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86.
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.
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