Handelsbanken Fonder AB Takes Position in TriCo Bancshares (NASDAQ:TCBK)

Handelsbanken Fonder AB acquired a new stake in shares of TriCo Bancshares (NASDAQ:TCBK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,000 shares of the financial services provider’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in TriCo Bancshares by 127.0% during the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock valued at $2,468,000 after purchasing an additional 32,379 shares in the last quarter. Geode Capital Management LLC raised its position in shares of TriCo Bancshares by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock valued at $33,344,000 after purchasing an additional 5,155 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of TriCo Bancshares by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock valued at $19,041,000 after buying an additional 25,817 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in TriCo Bancshares by 23.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock worth $7,035,000 after buying an additional 30,227 shares during the period. Finally, Stifel Financial Corp increased its stake in TriCo Bancshares by 2.2% in the 3rd quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider’s stock worth $2,049,000 after buying an additional 1,013 shares in the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TCBK. DA Davidson downgraded TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods decreased their target price on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a research note 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.75.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK opened at $43.33 on Tuesday. The company has a market cap of $1.43 billion, a P/E ratio of 12.52 and a beta of 0.57. TriCo Bancshares has a 52-week low of $31.73 and a 52-week high of $51.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day moving average is $43.71 and its two-hundred day moving average is $44.48.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share 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%. As a group, analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, March 7th. TriCo Bancshares’s payout ratio is 38.15%.

Insider Transactions at TriCo Bancshares

In related news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total value of $252,297.00. Following the completion of the transaction, the director now directly owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. This trade represents a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.64% of the company’s stock.

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.