Alliancebernstein L.P. Sells 55,158 Shares of TriCo Bancshares (NASDAQ:TCBK)

Alliancebernstein L.P. reduced its holdings in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 746,877 shares of the financial services provider's stock after selling 55,158 shares during the quarter. Alliancebernstein L.P. owned 2.26% of TriCo Bancshares worth $32,639,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Ironwood Investment Management LLC grew its stake in shares of TriCo Bancshares by 1.6% during the fourth quarter. Ironwood Investment Management LLC now owns 15,670 shares of the financial services provider's stock worth $685,000 after buying an additional 253 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of TriCo Bancshares by 4.1% during the 4th quarter. LPL Financial LLC now owns 11,704 shares of the financial services provider's stock valued at $511,000 after acquiring an additional 466 shares in the last quarter. Rhumbline Advisers grew its position in TriCo Bancshares by 1.1% during the 4th quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider's stock worth $2,580,000 after acquiring an additional 652 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in TriCo Bancshares in the 3rd quarter worth about $28,000. Finally, Commonwealth Equity Services LLC raised its position in TriCo Bancshares by 13.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,693 shares of the financial services provider's stock valued at $249,000 after purchasing an additional 682 shares during the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

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TriCo Bancshares Trading Up 0.5 %

NASDAQ:TCBK traded up $0.19 during trading hours on Friday, hitting $36.09. 158,280 shares of the company were exchanged, compared to its average volume of 116,972. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.43 and a beta of 0.53. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. The company has a fifty day simple moving average of $41.36 and a 200 day simple moving average of $43.61. 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 - Get Free Report) last issued 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 return on equity of 9.63% and a net margin of 21.63%. Sell-side analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.66%. TriCo Bancshares's dividend payout ratio (DPR) is currently 38.15%.

Analyst Ratings Changes

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 report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.