Rhumbline Advisers Trims Position in TriCo Bancshares (NASDAQ:TCBK)

Rhumbline Advisers cut its position in TriCo Bancshares (NASDAQ:TCBK) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,216 shares of the financial services provider’s stock after selling 817 shares during the period. Rhumbline Advisers owned about 0.18% of TriCo Bancshares worth $2,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG increased its stake in TriCo Bancshares by 51.8% in the 4th quarter. Deutsche Bank AG now owns 30,525 shares of the financial services provider’s stock worth $1,334,000 after buying an additional 10,422 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of TriCo Bancshares by 13.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,108 shares of the financial services provider’s stock worth $3,151,000 after purchasing an additional 8,588 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of TriCo Bancshares by 591.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 2,524 shares in the last quarter. Franklin Resources Inc. grew its position in shares of TriCo Bancshares by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider’s stock worth $68,546,000 after purchasing an additional 37,191 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of TriCo Bancshares by 488.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,996 shares of the financial services provider’s stock worth $1,267,000 after purchasing an additional 24,068 shares in the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Trading Down 1.7%

TCBK opened at $38.82 on Tuesday. The firm has a market cap of $1.28 billion, a P/E ratio of 11.22 and a beta of 0.61. 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 stock has a 50-day moving average of $39.30 and a 200 day moving average of $41.85. TriCo Bancshares has a 12 month low of $35.20 and a 12 month high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data 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 net margin of 21.63% and a return on equity of 9.63%. The company had revenue of $98.62 million during the quarter, compared to analyst estimates of $99.59 million. As a group, research analysts forecast that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Friday, June 6th. TriCo Bancshares’s payout ratio is currently 38.48%.

Analysts Set New Price Targets

TCBK has been the subject of a number of research analyst reports. Stephens restated an “overweight” rating and set a $47.00 price objective on shares of TriCo Bancshares in a research report on Monday, April 28th. Keefe, Bruyette & Woods cut their price target 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. Finally, Raymond James cut their price target on TriCo Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.80.

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.