Renaissance Technologies LLC grew its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 3.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 664,638 shares of the financial services provider’s stock after acquiring an additional 21,024 shares during the quarter. Renaissance Technologies LLC owned about 2.18% of TriCo Bancshares worth $25,123,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Aperio Group LLC acquired a new position in TriCo Bancshares during the 2nd quarter worth $231,000. Virginia Retirement Systems ET AL boosted its position in TriCo Bancshares by 8.1% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 12,000 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 900 shares during the period. Hillsdale Investment Management Inc. boosted its position in TriCo Bancshares by 29.6% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 20,600 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 4,700 shares during the period. Investment Counselors of Maryland LLC boosted its position in TriCo Bancshares by 1.1% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 512,488 shares of the financial services provider’s stock worth $19,372,000 after acquiring an additional 5,641 shares during the period. Finally, NEXT Financial Group Inc acquired a new stake in shares of TriCo Bancshares in the second quarter valued at $138,000. Institutional investors own 60.86% of the company’s stock.
TCBK has been the subject of several research analyst reports. BidaskClub upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Thursday. Raymond James cut their price objective on TriCo Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. ValuEngine lowered TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Monday, July 22nd. Finally, Piper Jaffray Companies initiated coverage on TriCo Bancshares in a report on Friday, July 12th. They issued a “neutral” rating and a $41.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $41.50.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.02. The business had revenue of $77.89 million during the quarter, compared to analyst estimates of $77.76 million. TriCo Bancshares had a return on equity of 10.14% and a net margin of 26.74%. As a group, research analysts forecast that TriCo Bancshares will post 2.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is a positive change from TriCo Bancshares’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.37%. TriCo Bancshares’s payout ratio is 32.71%.
In other news, EVP Craig B. Carney sold 5,122 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $36.38, for a total transaction of $186,338.36. Following the sale, the executive vice president now directly owns 20,896 shares of the company’s stock, valued at $760,196.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael W. Koehnen bought 15,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were bought at an average cost of $35.83 per share, for a total transaction of $537,450.00. Following the completion of the transaction, the director now directly owns 95,732 shares of the company’s stock, valued at $3,430,077.56. The disclosure for this purchase can be found here. 10.30% of the stock is owned by insiders.
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. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.
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