Sei Investments Co. Sells 5,294 Shares of TriCo Bancshares (NASDAQ:TCBK)

Sei Investments Co. lowered its position in TriCo Bancshares (NASDAQ:TCBK) by 18.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 23,138 shares of the financial services provider’s stock after selling 5,294 shares during the period. Sei Investments Co.’s holdings in TriCo Bancshares were worth $1,011,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TCBK. Barclays PLC boosted its stake in shares of TriCo Bancshares by 127.0% in the 3rd 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 lifted its stake in TriCo Bancshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock worth $33,344,000 after purchasing an additional 5,155 shares during the last quarter. JPMorgan Chase & Co. boosted its position in TriCo Bancshares by 6.1% during the third 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 during the period. Assenagon Asset Management S.A. grew its stake in shares of TriCo Bancshares by 23.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock valued at $7,035,000 after buying an additional 30,227 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of TriCo Bancshares by 2.2% in the third 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 during the period. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Price Performance

Shares of TCBK stock opened at $36.14 on Tuesday. 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 has a market cap of $1.19 billion, a P/E ratio of 10.45 and a beta of 0.53. The business’s 50 day moving average price is $42.23 and its 200-day moving average price is $43.87. TriCo Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. On average, equities research analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, March 7th. TriCo Bancshares’s dividend payout ratio is currently 38.15%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reduced their price target on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.75.

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.