Curi RMB Capital LLC Boosts Holdings in TriCo Bancshares (NASDAQ:TCBK)

Curi RMB Capital LLC grew its position in TriCo Bancshares (NASDAQ:TCBK) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 346,833 shares of the financial services provider’s stock after acquiring an additional 5,314 shares during the quarter. Curi RMB Capital LLC’s holdings in TriCo Bancshares were worth $14,792,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TCBK. BNP Paribas Financial Markets lifted its stake in TriCo Bancshares by 200.3% in the first quarter. BNP Paribas Financial Markets now owns 24,384 shares of the financial services provider’s stock worth $897,000 after purchasing an additional 16,263 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of TriCo Bancshares during the 1st quarter worth approximately $227,000. SG Americas Securities LLC boosted its holdings in TriCo Bancshares by 8.2% during the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 287 shares during the period. Sei Investments Co. grew its position in TriCo Bancshares by 4.4% in the 1st quarter. Sei Investments Co. now owns 18,045 shares of the financial services provider’s stock valued at $664,000 after acquiring an additional 764 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in TriCo Bancshares by 58.5% in the first quarter. Russell Investments Group Ltd. now owns 98,469 shares of the financial services provider’s stock worth $3,622,000 after purchasing an additional 36,362 shares during the period. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Price Performance

NASDAQ TCBK opened at $47.84 on Thursday. The company has a market cap of $1.58 billion, a PE ratio of 14.24 and a beta of 0.54. The firm’s 50 day moving average price is $43.59 and its 200-day moving average price is $41.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a 52-week low of $31.73 and a 52-week high of $50.63.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. The business had revenue of $133.84 million for the quarter, compared to analysts’ expectations of $98.65 million. Sell-side analysts forecast that TriCo Bancshares will post 3.38 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.33 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.32 annualized dividend and a yield of 2.76%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 39.29%.

Insider Buying and Selling at TriCo Bancshares

In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total transaction of $63,280.00. Following the completion of the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $135,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $135,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cory W. Giese sold 3,465 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the completion of the sale, the director now directly owns 11,228 shares of the company’s stock, valued at $484,039.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.64% of the stock is owned by insiders.

Analysts Set New Price Targets

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

TriCo Bancshares Company 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.