Russell Investments Group Ltd. Sells 16,236 Shares of TriCo Bancshares (NASDAQ:TCBK)

Russell Investments Group Ltd. lessened its holdings in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 16.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 80,009 shares of the financial services provider's stock after selling 16,236 shares during the period. Russell Investments Group Ltd. owned 0.24% of TriCo Bancshares worth $3,496,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ironwood Investment Management LLC grew its stake in shares of TriCo Bancshares by 1.6% during the fourth quarter. Ironwood Investment Management LLC now owns 15,670 shares of the financial services provider's stock worth $685,000 after purchasing an additional 253 shares during the period. LPL Financial LLC boosted its holdings in TriCo Bancshares by 4.1% during the fourth quarter. LPL Financial LLC now owns 11,704 shares of the financial services provider's stock worth $511,000 after buying an additional 466 shares during the last quarter. Rhumbline Advisers grew its position 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 period. Commonwealth Equity Services LLC grew its position in shares of TriCo Bancshares by 13.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,693 shares of the financial services provider's stock worth $249,000 after buying an additional 682 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of TriCo Bancshares by 2.2% in the 3rd quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider's stock valued at $2,049,000 after acquiring an additional 1,013 shares during the last quarter. Institutional investors own 59.11% of the company's stock.

Analyst Upgrades and Downgrades

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

TriCo Bancshares Stock Up 3.2 %

Shares of NASDAQ TCBK traded up $1.17 during mid-day trading on Tuesday, reaching $38.10. 98,917 shares of the company's stock were exchanged, compared to its average volume of 117,100. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $40.31 and a 200 day simple moving average of $43.39. TriCo Bancshares has a twelve month low of $33.65 and a twelve month high of $51.06. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 11.01 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its 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%. As a group, equities analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Friday, March 7th. TriCo Bancshares's dividend payout ratio (DPR) is presently 38.15%.

About TriCo Bancshares

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.