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

Quest Partners LLC bought a new position in TriCo Bancshares (NASDAQ:TCBK - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,793 shares of the financial services provider's stock, valued at approximately $588,000.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in TriCo Bancshares by 8.2% in the first quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider's stock worth $139,000 after buying an additional 287 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of TriCo Bancshares by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider's stock worth $205,000 after purchasing an additional 439 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of TriCo Bancshares by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider's stock worth $315,000 after purchasing an additional 758 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of TriCo Bancshares during the 1st quarter valued at $489,000. Finally, Principal Financial Group Inc. lifted its stake in shares of TriCo Bancshares by 7.5% in the 2nd quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider's stock valued at $553,000 after purchasing an additional 973 shares during the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

TriCo Bancshares Stock Performance

NASDAQ TCBK traded up $1.52 during trading on Friday, hitting $48.95. The company's stock had a trading volume of 142,797 shares, compared to its average volume of 109,825. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $50.63. The firm has a market cap of $1.62 billion, a P/E ratio of 14.57 and a beta of 0.54. The firm has a 50 day moving average price of $44.28 and a 200 day moving average price of $41.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30.

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

Insider Transactions at TriCo Bancshares

In other news, Director Michael W. Koehnen sold 1,400 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 3,000 shares in the company, valued at approximately $135,600. The trade was a 31.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.64% of the company's stock.

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.