Jupiter Topco LLC Invests $753,000 in TriCo Bancshares $TCBK

Jupiter Topco LLC acquired a new stake in TriCo Bancshares (NASDAQ:TCBK) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,970 shares of the financial services provider’s stock, valued at approximately $753,000.

Other hedge funds also recently bought and sold shares of the company. Hsbc Holdings PLC purchased a new stake in TriCo Bancshares in the 4th quarter worth approximately $815,000. GSA Capital Partners LLP purchased a new position in shares of TriCo Bancshares during the 2nd quarter valued at $1,100,000. Heartland Advisors Inc. bought a new position in shares of TriCo Bancshares in the second quarter worth $13,462,000. Rice Hall James & Associates LLC bought a new position in shares of TriCo Bancshares in the second quarter worth $6,154,000. Finally, Deutsche Bank AG purchased a new stake in shares of TriCo Bancshares in the second quarter worth $1,759,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK opened at $54.40 on Monday. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 13.05 and a beta of 0.59. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. TriCo Bancshares has a 1-year low of $40.44 and a 1-year high of $61.71. The stock’s 50-day moving average is $56.41 and its 200 day moving average is $52.04.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. The company had revenue of $111.88 million during the quarter, compared to analysts’ expectations of $110.99 million. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. On average, sell-side analysts anticipate that TriCo Bancshares will post 4.28 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, September 11th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 34.53%.

Wall Street Analysts Forecast Growth

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

TriCo Bancshares 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.