Rhumbline Advisers Boosts Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

Rhumbline Advisers grew its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,033 shares of the financial services provider’s stock after purchasing an additional 652 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of TriCo Bancshares worth $2,580,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of TriCo Bancshares by 127.0% in the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock valued at $2,468,000 after purchasing an additional 32,379 shares during the period. Geode Capital Management LLC lifted its stake in TriCo Bancshares by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock valued at $33,344,000 after buying an additional 5,155 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in TriCo Bancshares by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock worth $19,041,000 after buying an additional 25,817 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in TriCo Bancshares by 23.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock worth $7,035,000 after buying an additional 30,227 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of TriCo Bancshares by 2.2% during the third quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider’s stock valued at $2,049,000 after acquiring an additional 1,013 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

Wall Street Analyst Weigh In

TCBK has been the subject of several recent research reports. DA Davidson downgraded TriCo Bancshares from a “buy” rating to a “neutral” rating and increased their price objective for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods dropped their target price on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.75.

TriCo Bancshares Price Performance

TCBK opened at $43.72 on Monday. The stock’s 50-day moving average price is $43.71 and its 200 day moving average price is $44.48. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $51.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 12.64 and a beta of 0.57.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. As a group, sell-side analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, March 7th. TriCo Bancshares’s dividend payout ratio is currently 38.15%.

Insider Transactions at TriCo Bancshares

In other news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the sale, the director now owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. This trade represents a 45.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.64% of the company’s stock.

About TriCo Bancshares

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.