TriCo Bancshares (NASDAQ:TCBK) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,867 shares of the financial services provider’s stock after selling 1,924 shares during the quarter. Raymond James & Associates’ holdings in TriCo Bancshares were worth $553,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TCBK. Quantbot Technologies LP boosted its stake in shares of TriCo Bancshares by 49.6% during the third quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 1,631 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of TriCo Bancshares during the 3rd quarter worth about $213,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of TriCo Bancshares by 39.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,215 shares of the financial services provider’s stock worth $231,000 after buying an additional 2,024 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of TriCo Bancshares in the third quarter valued at approximately $281,000. Finally, Fermata Advisors LLC acquired a new stake in TriCo Bancshares during the third quarter worth approximately $329,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods cut their price target on TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating for the company in a report on Friday, January 26th. StockNews.com lowered TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Monday. Raymond James upped their price objective on shares of TriCo Bancshares from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, DA Davidson decreased their target price on shares of TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.00.

TriCo Bancshares Price Performance

Shares of TriCo Bancshares stock opened at $34.24 on Friday. The business’s fifty day moving average price is $34.34 and its 200 day moving average price is $36.11. TriCo Bancshares has a twelve month low of $28.66 and a twelve month high of $45.84. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.14 billion, a P/E ratio of 9.73 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.07). The firm had revenue of $131.95 million during the quarter, compared to analysts’ expectations of $101.30 million. TriCo Bancshares had a return on equity of 10.64% and a net margin of 23.49%. As a group, research analysts anticipate that TriCo Bancshares will post 3.25 earnings per share for the current year.

TriCo Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.86%. This is a boost from TriCo Bancshares’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, March 7th. TriCo Bancshares’s payout ratio is 37.50%.

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.