TriCo Bancshares (NASDAQ:TCBK) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 773,617 shares of the financial services provider’s stock after selling 8,033 shares during the period. Geode Capital Management LLC owned 2.34% of TriCo Bancshares worth $33,816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC grew its stake in shares of TriCo Bancshares by 127.0% in the 3rd quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock valued at $2,468,000 after buying an additional 32,379 shares during the period. JPMorgan Chase & Co. grew its position in TriCo Bancshares by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock worth $19,041,000 after acquiring an additional 25,817 shares during the period. Assenagon Asset Management S.A. increased its stake in TriCo Bancshares by 23.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock worth $7,035,000 after acquiring an additional 30,227 shares during the last quarter. Stifel Financial Corp raised its position in TriCo Bancshares by 2.2% in the third quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider’s stock valued at $2,049,000 after purchasing an additional 1,013 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of TriCo Bancshares by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider’s stock valued at $68,546,000 after purchasing an additional 37,191 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reduced their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, TriCo Bancshares has a consensus rating of “Hold” and a consensus target price of $50.75.

TriCo Bancshares Trading Up 1.1 %

TCBK opened at $37.12 on Thursday. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $40.88 and a 200-day simple moving average of $43.49. The firm has a market cap of $1.22 billion, a P/E ratio of 10.73 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. On average, equities analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Friday, March 7th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 38.15%.

TriCo Bancshares Company 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.