Swiss National Bank Raises Position in TriCo Bancshares (NASDAQ:TCBK)

Swiss National Bank raised its holdings in shares of TriCo Bancshares (NASDAQ:TCBK – Get Rating) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,400 shares of the financial services provider’s stock after buying an additional 500 shares during the period. Swiss National Bank’s holdings in TriCo Bancshares were worth $3,692,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas lifted its stake in shares of TriCo Bancshares by 4.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 4,881 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 187 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in TriCo Bancshares by 1.2% in the third quarter. Public Employees Retirement System of Ohio now owns 18,479 shares of the financial services provider’s stock valued at $825,000 after purchasing an additional 224 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of TriCo Bancshares by 3.0% during the fourth quarter. Arizona State Retirement System now owns 8,468 shares of the financial services provider’s stock valued at $432,000 after purchasing an additional 243 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of TriCo Bancshares by 5.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,191 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 255 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of TriCo Bancshares by 21.7% in the second quarter. Captrust Financial Advisors now owns 1,853 shares of the financial services provider’s stock worth $85,000 after buying an additional 331 shares during the period. 60.69% of the stock is owned by institutional investors.

TriCo Bancshares Price Performance

Shares of NASDAQ TCBK opened at $33.55 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.80 and a quick ratio of 0.80. TriCo Bancshares has a 1 year low of $28.66 and a 1 year high of $58.62. The company’s 50-day moving average is $38.07 and its 200 day moving average is $46.59. The stock has a market capitalization of $1.11 billion, a P/E ratio of 7.97 and a beta of 0.56.

TriCo Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 17th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Thursday, March 16th. TriCo Bancshares’s dividend payout ratio is currently 28.50%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TCBK. Keefe, Bruyette & Woods cut their price target on shares of TriCo Bancshares from $61.00 to $52.00 and set a “market perform” rating on the stock in a report on Thursday, April 6th. StockNews.com started coverage on TriCo Bancshares in a research note on Thursday. They issued a “sell” rating on the stock. Stephens lowered their price target on TriCo Bancshares from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Tuesday, January 31st. Raymond James cut their price objective on TriCo Bancshares from $45.00 to $40.00 in a research report on Thursday, April 27th. Finally, Piper Sandler reduced their target price on TriCo Bancshares from $59.00 to $46.00 in a research note on Monday, May 1st.

TriCo Bancshares Company Profile

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TriCo Bancshares is a bank holding company, which engages in the provision of banking services to retail customers and small to medium-sized businesses. It offers personal and business accounts, personal and business loans and credit, and personal and business services. The company was founded on October 13, 1981 and is headquartered in Chico, CA.