Cerity Partners LLC Invests $678,000 in TriCo Bancshares (NASDAQ:TCBK)

Cerity Partners LLC acquired a new position in TriCo Bancshares (NASDAQ:TCBK - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,891 shares of the financial services provider's stock, valued at approximately $678,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TCBK. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in TriCo Bancshares in the third quarter worth approximately $210,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in TriCo Bancshares by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider's stock valued at $315,000 after buying an additional 758 shares during the period. SG Americas Securities LLC bought a new position in shares of TriCo Bancshares during the third quarter valued at about $395,000. Principal Financial Group Inc. increased its holdings in shares of TriCo Bancshares by 7.5% in the second quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider's stock worth $553,000 after buying an additional 973 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of TriCo Bancshares in the 3rd quarter valued at about $588,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Stephens lowered 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. Piper Sandler dropped their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Finally, DA Davidson downgraded shares of TriCo Bancshares from a "buy" rating to a "neutral" rating and upped their price objective for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, TriCo Bancshares has an average rating of "Hold" and an average target price of $48.20.

TriCo Bancshares Stock Performance

Shares of NASDAQ:TCBK traded down $0.13 during midday trading on Friday, hitting $48.39. The company had a trading volume of 113,971 shares, compared to its average volume of 109,765. The company has a fifty day moving average of $45.40 and a two-hundred day moving average of $42.75. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $51.06. 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 company has a market cap of $1.60 billion, a price-to-earnings ratio of 14.40 and a beta of 0.56.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, beating analysts' consensus estimates 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. On average, equities research analysts expect that TriCo Bancshares will post 3.38 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.73%. TriCo Bancshares's dividend payout ratio is presently 39.29%.

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.