Franklin Resources Inc. boosted its stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,568,560 shares of the financial services provider's stock after purchasing an additional 37,191 shares during the quarter. Franklin Resources Inc. owned about 4.75% of TriCo Bancshares worth $68,546,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in TriCo Bancshares in the 4th quarter valued at about $1,818,000. Barclays PLC grew its position in shares of TriCo Bancshares by 127.0% in the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider's stock valued at $2,468,000 after purchasing an additional 32,379 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of TriCo Bancshares by 23.1% during 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 period. JPMorgan Chase & Co. lifted its holdings in TriCo Bancshares by 6.1% during the 3rd 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in TriCo Bancshares by 488.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,996 shares of the financial services provider's stock valued at $1,267,000 after purchasing an additional 24,068 shares during the period. 59.11% of the stock is currently owned by institutional investors and hedge funds.
TriCo Bancshares Price Performance
TriCo Bancshares stock traded down $0.84 during mid-day trading on Friday, reaching $36.29. 168,340 shares of the company were exchanged, compared to its average volume of 115,048. The firm has a market cap of $1.20 billion, a PE ratio of 10.49 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. The company has a fifty day simple moving average of $42.40 and a 200-day simple moving average of $43.93. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06.
TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.88 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%. As a group, equities research analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.
TriCo Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.33 per share. The ex-dividend date was Friday, March 7th. This represents a $1.32 annualized dividend and a yield of 3.64%. TriCo Bancshares's dividend payout ratio is currently 38.15%.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods lowered their price objective on TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating on the stock in a research report 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $50.75.
Check Out Our Latest Stock Analysis on TriCo Bancshares
About TriCo Bancshares
(
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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