Alliancebernstein L.P. Has $32.64 Million Stock Position in TriCo Bancshares (NASDAQ:TCBK)

Alliancebernstein L.P. cut its position in TriCo Bancshares (NASDAQ:TCBK) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 746,877 shares of the financial services provider’s stock after selling 55,158 shares during the quarter. Alliancebernstein L.P. owned approximately 2.26% of TriCo Bancshares worth $32,639,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ironwood Investment Management LLC grew its position in shares of 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. LPL Financial LLC boosted its stake in TriCo Bancshares by 4.1% during the 4th quarter. LPL Financial LLC now owns 11,704 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 466 shares during the period. Rhumbline Advisers grew its holdings in TriCo Bancshares by 1.1% in the 4th quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider’s stock valued at $2,580,000 after buying an additional 652 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in TriCo Bancshares in the 3rd quarter worth approximately $28,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of TriCo Bancshares by 13.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 5,693 shares of the financial services provider’s stock worth $249,000 after buying an additional 682 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lowered their price objective on shares of 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.75.

TriCo Bancshares Stock Down 2.3 %

TCBK stock opened at $36.29 on Monday. The business’s 50-day simple moving average is $42.40 and its 200 day simple moving average is $43.94. 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 company has a market cap of $1.20 billion, a PE ratio of 10.49 and a beta of 0.55. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $51.06.

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

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Friday, March 7th. TriCo Bancshares’s dividend 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.