JPMorgan Chase & Co. Sells 11,098 Shares of TriCo Bancshares (NASDAQ:TCBK)

JPMorgan Chase & Co. lessened its position in TriCo Bancshares (NASDAQ:TCBK) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 435,357 shares of the financial services provider’s stock after selling 11,098 shares during the period. JPMorgan Chase & Co.’s holdings in TriCo Bancshares were worth $19,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of TCBK. Proficio Capital Partners LLC acquired a new stake in shares of TriCo Bancshares in the fourth quarter valued at about $1,818,000. Barclays PLC boosted its stake in TriCo Bancshares by 127.0% during 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 during the period. Assenagon Asset Management S.A. grew 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 valued at $7,035,000 after buying an additional 30,227 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in TriCo Bancshares by 488.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,996 shares of the financial services provider’s stock worth $1,267,000 after buying an additional 24,068 shares during the period. Finally, Inceptionr LLC bought a new stake in shares of TriCo Bancshares in the fourth quarter valued at approximately $406,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods dropped their target price on shares of 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.75.

TriCo Bancshares Stock Performance

TCBK opened at $35.90 on Friday. The stock has a market cap of $1.18 billion, a PE ratio of 10.38 and a beta of 0.53. TriCo Bancshares has a 1 year low of $31.73 and a 1 year high of $51.06. The stock’s 50 day simple moving average is $41.52 and its 200-day simple moving average is $43.64. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

TriCo Bancshares (NASDAQ:TCBK) last announced 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 net margin of 21.63% and a return on equity of 9.63%. Sell-side analysts forecast that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, March 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.68%. TriCo Bancshares’s payout ratio is presently 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.