Quest Partners LLC Takes Position in TriCo Bancshares (NASDAQ:TCBK)

Quest Partners LLC bought a new position in shares of TriCo Bancshares (NASDAQ:TCBK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,793 shares of the financial services provider’s stock, valued at approximately $588,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in shares of TriCo Bancshares by 8.2% in the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock worth $139,000 after buying an additional 287 shares in the last quarter. ProShare Advisors LLC lifted its holdings in TriCo Bancshares by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 439 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in TriCo Bancshares by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 758 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of TriCo Bancshares in the 1st quarter worth approximately $489,000. Finally, Principal Financial Group Inc. raised its holdings in shares of TriCo Bancshares by 7.5% in the 2nd quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 973 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TCBK. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $48.00 price target (up previously from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. Stephens cut their target price on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. DA Davidson lowered TriCo Bancshares from a “buy” rating to a “neutral” rating and increased their price target for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th. Piper Sandler cut their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, Janney Montgomery Scott reaffirmed a “neutral” rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, TriCo Bancshares currently has a consensus rating of “Hold” and an average price target of $48.20.

TriCo Bancshares Trading Up 3.2 %

Shares of NASDAQ TCBK opened at $48.95 on Friday. The firm has a market capitalization of $1.62 billion, a PE ratio of 14.56 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 company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $44.16 and a two-hundred day moving average price of $41.91.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The firm had revenue of $133.84 million for the quarter, compared to analyst estimates of $98.65 million. As a group, analysts predict that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

Insider Buying and Selling at TriCo Bancshares

In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the sale, the director now directly owns 3,000 shares in the company, valued at $135,600. The trade was a 31.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.64% of the company’s stock.

TriCo Bancshares Profile

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.