LPL Financial LLC Raises Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

LPL Financial LLC increased its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,704 shares of the financial services provider’s stock after purchasing an additional 466 shares during the quarter. LPL Financial LLC’s holdings in TriCo Bancshares were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ironwood Investment Management LLC grew its holdings in shares of TriCo Bancshares by 1.6% during the fourth quarter. Ironwood Investment Management LLC now owns 15,670 shares of the financial services provider’s stock worth $685,000 after buying an additional 253 shares in the last quarter. Rhumbline Advisers grew its stake in TriCo Bancshares by 1.1% in the 4th quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider’s stock worth $2,580,000 after acquiring an additional 652 shares during the period. Commonwealth Equity Services LLC raised its holdings in TriCo Bancshares by 13.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 5,693 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 682 shares during the last quarter. Allworth Financial LP lifted its stake in shares of TriCo Bancshares by 21.7% during the 4th quarter. Allworth Financial LP now owns 7,937 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 1,413 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of TriCo Bancshares by 27.1% during the fourth quarter. SG Americas Securities LLC now owns 11,783 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 2,512 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Wall Street Analyst Weigh In

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

TriCo Bancshares Stock Up 1.4 %

Shares of NASDAQ TCBK opened at $39.43 on Friday. 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 stock has a market capitalization of $1.30 billion, a PE ratio of 11.40 and a beta of 0.53. The firm has a fifty day moving average of $40.08 and a 200-day moving average of $43.35. TriCo Bancshares has a 52-week low of $33.65 and a 52-week high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. On average, analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.33 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.32 annualized dividend and a yield of 3.35%. TriCo Bancshares’s payout ratio is 38.15%.

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.