Bolthouse Investments LLC Takes Position in TriCo Bancshares (NASDAQ:TCBK)

Bolthouse Investments LLC bought a new position in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 353,718 shares of the financial services provider's stock, valued at approximately $15,457,000. TriCo Bancshares accounts for approximately 14.3% of Bolthouse Investments LLC's holdings, making the stock its biggest position. Bolthouse Investments LLC owned approximately 1.07% of TriCo Bancshares as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Ironwood Investment Management LLC raised its stake in TriCo Bancshares by 1.6% in the 4th 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. Summit Investment Advisors Inc. raised its stake in TriCo Bancshares by 8.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,347 shares of the financial services provider's stock valued at $146,000 after purchasing an additional 258 shares during the last quarter. Two Sigma Securities LLC raised its stake in TriCo Bancshares by 8.5% in the 4th quarter. Two Sigma Securities LLC now owns 5,668 shares of the financial services provider's stock valued at $248,000 after purchasing an additional 446 shares during the last quarter. LPL Financial LLC raised its stake in TriCo Bancshares by 4.1% in 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 last quarter. Finally, Rhumbline Advisers raised its stake 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 purchasing an additional 652 shares during the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Stephens reissued an "overweight" rating and issued a $47.00 price objective on shares of TriCo Bancshares in a research note on Monday. Keefe, Bruyette & Woods lowered their price target on shares of TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating on the stock in a research report on Monday. Finally, Raymond James cut their price objective on shares of TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $47.80.

TriCo Bancshares Trading Up 0.3 %

TCBK stock traded up $0.10 during trading on Monday, reaching $38.61. 116,590 shares of the stock were exchanged, compared to its average volume of 117,436. 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 50 day moving average price of $39.83 and a 200-day moving average price of $43.31. TriCo Bancshares has a 1 year low of $34.03 and a 1 year high of $51.06. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 11.16 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. The company had revenue of $98.62 million for the quarter, compared to the consensus estimate of $99.59 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. On average, research analysts predict 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. 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 3.42%. The ex-dividend date of this dividend was Friday, March 7th. TriCo Bancshares's dividend payout ratio (DPR) is 38.48%.

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.