Deutsche Bank AG Takes $1.76 Million Position in TriCo Bancshares $TCBK

Deutsche Bank AG acquired a new stake in shares of TriCo Bancshares (NASDAQ:TCBK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 32,665 shares of the financial services provider’s stock, valued at approximately $1,759,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TCBK. AQR Capital Management LLC increased its stake in TriCo Bancshares by 28.9% in the 1st quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider’s stock worth $1,307,000 after acquiring an additional 7,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of TriCo Bancshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock valued at $760,000 after acquiring an additional 820 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of TriCo Bancshares by 4.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock valued at $25,727,000 after acquiring an additional 27,193 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of TriCo Bancshares by 8.4% during the first quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock worth $2,047,000 after purchasing an additional 3,951 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of TriCo Bancshares by 280.1% during the first quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock worth $1,977,000 after purchasing an additional 36,443 shares in the last quarter. Institutional investors own 59.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of TriCo Bancshares in a research report on Wednesday, July 8th. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Stephens upgraded shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. DA Davidson dropped their price objective on shares of TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Finally, Raymond James Financial lowered shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, TriCo Bancshares has a consensus rating of “Hold” and an average target price of $56.60.

TriCo Bancshares Trading Down 0.1%

Shares of TCBK opened at $53.81 on Friday. TriCo Bancshares has a fifty-two week low of $40.44 and a fifty-two week high of $61.71. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 12.90 and a beta of 0.60. The firm has a 50 day moving average price of $56.34 and a 200-day moving average price of $51.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.03. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. The business had revenue of $111.88 million during the quarter, compared to the consensus estimate of $110.99 million. As a group, equities research analysts forecast that TriCo Bancshares will post 4.28 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 11th. TriCo Bancshares’s payout ratio is 34.53%.

TriCo Bancshares Company Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.