KLP Kapitalforvaltning AS Takes Position in TriCo Bancshares (NASDAQ:TCBK)

KLP Kapitalforvaltning AS acquired a new stake in TriCo Bancshares (NASDAQ:TCBK - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,900 shares of the financial services provider's stock, valued at approximately $302,000.

Several other institutional investors have also modified their holdings of TCBK. Proficio Capital Partners LLC purchased a new stake in TriCo Bancshares during the 4th quarter valued at $1,818,000. Barclays PLC increased its position in TriCo Bancshares by 127.0% during the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider's stock valued at $2,468,000 after acquiring an additional 32,379 shares during the last quarter. Assenagon Asset Management S.A. raised its stake 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 valued at $7,035,000 after acquiring an additional 30,227 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of TriCo Bancshares by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider's stock worth $19,041,000 after acquiring an additional 25,817 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of TriCo Bancshares by 488.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,996 shares of the financial services provider's stock worth $1,267,000 after purchasing an additional 24,068 shares during the period. 59.11% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods cut their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating on the stock in a 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. According to MarketBeat, TriCo Bancshares currently has a consensus rating of "Hold" and a consensus target price of $50.75.

TriCo Bancshares Trading Up 0.5 %

Shares of NASDAQ:TCBK traded up $0.19 on Friday, hitting $36.09. 158,280 shares of the company's stock were exchanged, compared to its average volume of 116,972. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.43 and a beta of 0.53. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06. 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 business's 50 day simple moving average is $41.36 and its two-hundred day simple moving average is $43.61.

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, topping the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. Analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, March 7th. TriCo Bancshares's dividend payout ratio is presently 38.15%.

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.