TriCo Bancshares (NASDAQ:TCBK) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 488.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 28,996 shares of the financial services provider's stock after acquiring an additional 24,068 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of TriCo Bancshares worth $1,267,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Rhumbline Advisers grew its stake in shares of TriCo Bancshares by 1.1% during the fourth 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. purchased a new stake in shares of TriCo Bancshares during the third quarter worth about $28,000. Stifel Financial Corp grew its stake in shares of TriCo Bancshares by 2.2% during the third quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider's stock worth $2,049,000 after acquiring an additional 1,013 shares during the last quarter. Allworth Financial LP grew its stake in shares of TriCo Bancshares by 21.7% during the fourth quarter. Allworth Financial LP now owns 7,937 shares of the financial services provider's stock worth $341,000 after acquiring an additional 1,413 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of TriCo Bancshares by 27.1% during the fourth quarter. SG Americas Securities LLC now owns 11,783 shares of the financial services provider's stock worth $515,000 after acquiring an additional 2,512 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company's stock.

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Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods dropped their price target 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $50.75.

TriCo Bancshares Stock Performance

Shares of TriCo Bancshares stock traded down $0.08 on Friday, reaching $40.39. 282,785 shares of the stock were exchanged, compared to its average volume of 107,102. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $51.06. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 11.67 and a beta of 0.55. The business has a 50 day moving average price of $43.06 and a two-hundred day moving average price of $44.17.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, topping 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%. Analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Friday, March 7th. TriCo Bancshares's payout ratio is presently 38.15%.

TriCo Bancshares Company 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.