Quest Partners LLC Invests $588,000 in TriCo Bancshares (NASDAQ:TCBK)

Quest Partners LLC acquired a new stake in TriCo Bancshares (NASDAQ:TCBK) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 13,793 shares of the financial services provider’s stock, valued at approximately $588,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TCBK. Dimensional Fund Advisors LP raised its position in shares of TriCo Bancshares by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after purchasing an additional 50,358 shares during the period. American Century Companies Inc. raised its holdings in TriCo Bancshares by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock worth $15,975,000 after acquiring an additional 86,689 shares during the period. Curi RMB Capital LLC lifted its position in TriCo Bancshares by 1.6% during the 3rd quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider’s stock worth $14,792,000 after acquiring an additional 5,314 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in TriCo Bancshares by 8.9% during the second quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider’s stock valued at $9,333,000 after acquiring an additional 19,224 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of TriCo Bancshares by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider’s stock valued at $7,305,000 after purchasing an additional 9,723 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TriCo Bancshares

In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $135,600. The trade was a 31.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.64% of the company’s stock.

TriCo Bancshares Stock Up 3.2 %

TCBK opened at $48.95 on Friday. TriCo Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $50.63. The company has a market capitalization of $1.62 billion, a P/E ratio of 14.56 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s fifty day moving average price is $44.16 and its two-hundred day moving average price is $41.91.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The firm had revenue of $133.84 million during the quarter, compared to analyst estimates of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. On average, analysts anticipate that TriCo Bancshares will post 3.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler cut their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Stephens reduced their price objective on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Finally, DA Davidson downgraded shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.20.

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. 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.