TriCo Bancshares (NASDAQ:TCBK) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its position in TriCo Bancshares (NASDAQ:TCBK) by 6.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 10,305 shares of the financial services provider’s stock after selling 725 shares during the period. Voya Investment Management LLC’s holdings in TriCo Bancshares were worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its holdings in shares of TriCo Bancshares by 800.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 896 shares during the period. Summit Investment Advisors Inc. grew its holdings in TriCo Bancshares by 8.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,347 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 258 shares during the period. Aigen Investment Management LP purchased a new position in TriCo Bancshares during the fourth quarter valued at approximately $203,000. Pictet Asset Management Holding SA acquired a new position in TriCo Bancshares in the fourth quarter valued at approximately $203,000. Finally, Mariner LLC purchased a new stake in TriCo Bancshares in the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TCBK. Stephens reissued an “overweight” rating and set a $47.00 price target on shares of TriCo Bancshares in a report on Monday, April 28th. Raymond James lowered their target price on shares of TriCo Bancshares from $48.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Finally, 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 research note on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, TriCo Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $47.80.

TriCo Bancshares Trading Down 0.1 %

Shares of TriCo Bancshares stock opened at $40.29 on Friday. TriCo Bancshares has a twelve month low of $35.20 and a twelve month high of $51.06. The firm’s 50-day moving average price is $39.09 and its 200 day moving average price is $43.00. 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 firm has a market capitalization of $1.33 billion, a PE ratio of 11.64 and a beta of 0.59.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. The firm had revenue of $98.62 million for the quarter, compared to analyst estimates of $99.59 million. On average, sell-side analysts predict that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Friday, March 7th. TriCo Bancshares’s dividend payout ratio is currently 38.48%.

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.