Teacher Retirement System of Texas Takes $371,000 Position in TriCo Bancshares (NASDAQ:TCBK)

Teacher Retirement System of Texas bought a new position in TriCo Bancshares (NASDAQ:TCBK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,480 shares of the financial services provider's stock, valued at approximately $371,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TCBK. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TriCo Bancshares in the 3rd quarter worth approximately $210,000. Cerity Partners LLC purchased a new stake in TriCo Bancshares during the third quarter valued at about $678,000. Quantbot Technologies LP bought a new position in shares of TriCo Bancshares during the third quarter valued at about $129,000. BNP Paribas Financial Markets increased its holdings in shares of TriCo Bancshares by 75.1% in the third quarter. BNP Paribas Financial Markets now owns 11,187 shares of the financial services provider's stock worth $477,000 after buying an additional 4,799 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of TriCo Bancshares in the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 59.11% of the company's stock.

TriCo Bancshares Trading Down 2.3 %

NASDAQ TCBK traded down $0.84 on Friday, hitting $36.29. The company's stock had a trading volume of 168,340 shares, compared to its average volume of 115,048. The firm has a market cap of $1.20 billion, a P/E ratio of 10.49 and a beta of 0.55. TriCo Bancshares has a 52-week low of $31.73 and a 52-week high of $51.06. The company's 50-day simple moving average is $42.40 and its 200 day simple moving average is $43.93. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

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

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.32 annualized dividend and a yield of 3.64%. TriCo Bancshares's dividend payout ratio (DPR) is presently 38.15%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lowered their price objective on TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating for the company in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $50.75.

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.