UBS Group AG Has $4.37 Million Position in TriCo Bancshares $TCBK

UBS Group AG grew its position in TriCo Bancshares (NASDAQ:TCBK) by 14.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,320 shares of the financial services provider’s stock after buying an additional 11,392 shares during the quarter. UBS Group AG owned 0.28% of TriCo Bancshares worth $4,373,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TCBK. Larson Financial Group LLC raised its position in shares of TriCo Bancshares by 337.5% in the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after buying an additional 459 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after buying an additional 211 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of TriCo Bancshares in the 3rd quarter valued at approximately $58,000. PNC Financial Services Group Inc. acquired a new position in shares of TriCo Bancshares in the 3rd quarter valued at approximately $76,000. Finally, Federated Hermes Inc. raised its position in shares of TriCo Bancshares by 17.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after buying an additional 290 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Price Performance

TCBK stock opened at $50.68 on Friday. The company has a 50 day simple moving average of $49.07 and a 200 day simple moving average of $48.71. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 12.83 and a beta of 0.61. TriCo Bancshares has a 1 year low of $36.32 and a 1 year high of $53.18. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Monday, March 2nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $111.21 million during the quarter. TriCo Bancshares had a net margin of 23.71% and a return on equity of 9.87%. Research analysts anticipate that TriCo Bancshares will post 4.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on TCBK. Zacks Research upgraded shares of TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. DA Davidson boosted their target price on shares of TriCo Bancshares from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods boosted their target price on shares of TriCo Bancshares from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, January 26th. Piper Sandler boosted their target price on shares of TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.60.

About TriCo Bancshares

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.