TriCo Bancshares (NASDAQ:TCBK) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. raised its position in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,568,560 shares of the financial services provider's stock after buying an additional 37,191 shares during the period. Franklin Resources Inc. owned about 4.75% of TriCo Bancshares worth $68,546,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of TriCo Bancshares by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider's stock worth $33,344,000 after acquiring an additional 5,155 shares during the last quarter. JPMorgan Chase & Co. raised its stake in TriCo Bancshares by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider's stock worth $19,041,000 after purchasing an additional 25,817 shares during the period. Bank of New York Mellon Corp boosted its holdings in TriCo Bancshares by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 169,294 shares of the financial services provider's stock valued at $7,398,000 after purchasing an additional 2,875 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of TriCo Bancshares by 23.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider's stock valued at $7,035,000 after buying an additional 30,227 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of 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 buying an additional 652 shares during the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Performance

Shares of TCBK traded up $0.80 during mid-day trading on Tuesday, hitting $36.94. 21,947 shares of the company's stock were exchanged, compared to its average volume of 114,874. The firm has a market capitalization of $1.22 billion, a P/E ratio of 10.68 and a beta of 0.53. TriCo Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $51.06. The business's 50 day moving average is $42.23 and its two-hundred day moving average is $43.87. 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 posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. On average, equities analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently announced 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 3.57%. The ex-dividend date was Friday, March 7th. TriCo Bancshares's dividend payout ratio (DPR) is currently 38.15%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods decreased 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $50.75.

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.