Vanguard Group Inc. Sells 4,399 Shares of TriCo Bancshares (NASDAQ:TCBK)

Vanguard Group Inc. trimmed its position in TriCo Bancshares (NASDAQ:TCBK) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,812,320 shares of the financial services provider’s stock after selling 4,399 shares during the period. Vanguard Group Inc. owned approximately 0.05% of TriCo Bancshares worth $79,198,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Aigen Investment Management LP bought a new stake in shares of TriCo Bancshares during the fourth quarter valued at approximately $203,000. Golden State Wealth Management LLC acquired a new stake in TriCo Bancshares in the 4th quarter valued at $212,000. Handelsbanken Fonder AB bought a new stake in TriCo Bancshares during the 4th quarter valued at $218,000. Commonwealth Equity Services LLC raised its holdings in 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. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of TriCo Bancshares in the third quarter valued at $259,000. 59.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods decreased their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.75.

TriCo Bancshares Trading Down 5.2 %

NASDAQ TCBK opened at $35.90 on Friday. 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 business has a fifty day simple moving average of $41.52 and a 200 day simple moving average of $43.64. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06. The firm has a market capitalization of $1.18 billion, a P/E ratio of 10.38 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 EPS 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, analysts predict that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Friday, March 7th. TriCo Bancshares’s dividend 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.