Symphony Asset Management LLC grew its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,168 shares of the financial services provider’s stock after acquiring an additional 498 shares during the quarter. Symphony Asset Management LLC owned about 0.06% of TriCo Bancshares worth $463,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TCBK. Teachers Advisors LLC increased its holdings in shares of TriCo Bancshares by 52.4% during the fourth quarter. Teachers Advisors LLC now owns 68,009 shares of the financial services provider’s stock valued at $2,325,000 after acquiring an additional 23,382 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of TriCo Bancshares by 9.7% during the first quarter. Bank of Montreal Can now owns 43,082 shares of the financial services provider’s stock valued at $1,531,000 after acquiring an additional 3,810 shares in the last quarter. Nationwide Fund Advisors increased its holdings in shares of TriCo Bancshares by 16.9% during the first quarter. Nationwide Fund Advisors now owns 134,034 shares of the financial services provider’s stock valued at $4,762,000 after acquiring an additional 19,379 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of TriCo Bancshares by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 204,232 shares of the financial services provider’s stock valued at $7,256,000 after acquiring an additional 6,650 shares in the last quarter. Finally, Karp Capital Management Corp bought a new stake in shares of TriCo Bancshares during the first quarter valued at approximately $245,000. Hedge funds and other institutional investors own 69.62% of the company’s stock.
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In other news, EVP Craig B. Carney sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the transaction, the executive vice president now owns 23,998 shares in the company, valued at approximately $893,925.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 9.10% of the company’s stock.
Shares of TriCo Bancshares (NASDAQ:TCBK) opened at 34.99 on Friday. TriCo Bancshares has a 12-month low of $25.43 and a 12-month high of $38.58. The stock’s 50 day moving average price is $35.97 and its 200 day moving average price is $35.51. The company has a market cap of $802.15 million, a P/E ratio of 16.12 and a beta of 0.90.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Thursday, September 14th. TriCo Bancshares’s payout ratio is presently 31.34%.
Several research firms have recently commented on TCBK. Zacks Investment Research downgraded TriCo Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. BidaskClub downgraded TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, ValuEngine upgraded TriCo Bancshares from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. TriCo Bancshares has an average rating of “Hold” and an average price target of $38.50.
TriCo Bancshares Profile
TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.
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