Charles Schwab Investment Management Inc. lessened its position in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,158 shares of the financial services provider's stock after selling 22,613 shares during the period. Charles Schwab Investment Management Inc. owned 0.97% of TriCo Bancshares worth $13,697,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in TriCo Bancshares during the 3rd quarter worth approximately $210,000. Quest Partners LLC acquired a new stake in TriCo Bancshares in the third quarter valued at $588,000. Empowered Funds LLC raised its position in TriCo Bancshares by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 52,834 shares of the financial services provider's stock worth $2,253,000 after purchasing an additional 2,680 shares during the last quarter. Curi RMB Capital LLC lifted its holdings in TriCo Bancshares by 1.6% during the 3rd quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider's stock worth $14,792,000 after buying an additional 5,314 shares during the period. Finally, Versor Investments LP bought a new stake in shares of TriCo Bancshares in the 3rd quarter valued at about $699,000. 59.11% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts recently commented on TCBK shares. Stephens cut their price objective on TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Piper Sandler reduced their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. Finally, DA Davidson downgraded shares of TriCo Bancshares from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $50.00 to $53.00 in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, TriCo Bancshares has a consensus rating of "Hold" and a consensus target price of $48.20.
Read Our Latest Stock Analysis on TCBK
TriCo Bancshares Trading Up 0.1 %
Shares of NASDAQ:TCBK traded up $0.03 during mid-day trading on Monday, hitting $48.42. The company had a trading volume of 62,175 shares, compared to its average volume of 116,586. The firm has a fifty day moving average price of $45.40 and a 200 day moving average price of $42.79. The company has a market capitalization of $1.60 billion, a PE ratio of 14.40 and a beta of 0.56. 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 has a one year low of $31.73 and a one year high of $51.06.
TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The company had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million. As a group, research analysts forecast that TriCo Bancshares will post 3.38 EPS for the current year.
TriCo Bancshares Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.33 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.32 annualized dividend and a yield of 2.73%. TriCo Bancshares's dividend payout ratio is currently 39.29%.
TriCo Bancshares Company Profile
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Free Report)
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.
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