Millennium Management LLC Lowers Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

Millennium Management LLC lessened its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 51.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,459 shares of the financial services provider’s stock after selling 42,368 shares during the quarter. Millennium Management LLC owned approximately 0.12% of TriCo Bancshares worth $1,768,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ironwood Investment Management LLC increased its stake in TriCo Bancshares by 1.6% in the fourth quarter. Ironwood Investment Management LLC now owns 15,670 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 253 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of TriCo Bancshares by 8.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,347 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 258 shares during the last quarter. Two Sigma Securities LLC lifted its holdings in shares of TriCo Bancshares by 8.5% during the 4th quarter. Two Sigma Securities LLC now owns 5,668 shares of the financial services provider’s stock worth $248,000 after acquiring an additional 446 shares during the period. LPL Financial LLC lifted its holdings in shares of TriCo Bancshares by 4.1% during the 4th quarter. LPL Financial LLC now owns 11,704 shares of the financial services provider’s stock worth $511,000 after acquiring an additional 466 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of TriCo Bancshares by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,191 shares of the financial services provider’s stock worth $795,000 after acquiring an additional 616 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TCBK shares. Raymond James dropped their price target on shares of TriCo Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Stephens reiterated an “overweight” rating and issued a $47.00 target price on shares of TriCo Bancshares in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods decreased their target price on TriCo Bancshares from $48.00 to $46.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TriCo Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $47.80.

TriCo Bancshares Trading Down 0.6%

Shares of TCBK opened at $39.68 on Tuesday. TriCo Bancshares has a 12 month low of $35.20 and a 12 month high of $51.06. The stock’s 50-day moving average is $38.92 and its two-hundred day moving average is $42.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $1.30 billion, a PE ratio of 11.47 and a beta of 0.59.

TriCo Bancshares (NASDAQ:TCBK) last released 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%. The firm had revenue of $98.62 million for the quarter, compared to analyst estimates of $99.59 million. Equities analysts forecast that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.33 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.33%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 38.48%.

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.