Charles Schwab Investment Management Inc. Sells 24,160 Shares of TriCo Bancshares (NASDAQ:TCBK)

Charles Schwab Investment Management Inc. lowered its position in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 296,998 shares of the financial services provider's stock after selling 24,160 shares during the period. Charles Schwab Investment Management Inc. owned 0.90% of TriCo Bancshares worth $12,979,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TCBK. Geode Capital Management LLC raised its position in shares of TriCo Bancshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider's stock worth $33,344,000 after buying an additional 5,155 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of TriCo Bancshares by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider's stock valued at $19,041,000 after acquiring an additional 25,817 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of TriCo Bancshares by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 169,294 shares of the financial services provider's stock worth $7,398,000 after purchasing an additional 2,875 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of TriCo Bancshares by 23.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider's stock worth $7,035,000 after purchasing an additional 30,227 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in TriCo Bancshares by 1.1% during the fourth 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. Institutional investors own 59.11% of the company's stock.

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TriCo Bancshares Trading Down 1.4 %

TCBK traded down $0.57 during trading on Tuesday, hitting $40.88. 86,468 shares of the stock traded hands, compared to its average volume of 107,176. The firm has a 50-day moving average of $43.06 and a 200 day moving average of $44.15. 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 $1.35 billion, a P/E ratio of 11.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings results 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 return on equity of 9.63% and a net margin of 21.63%. Equities research analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.23%. The ex-dividend date was Friday, March 7th. TriCo Bancshares's dividend payout ratio (DPR) is currently 38.15%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reduced their target price on TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating on the stock in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.