Fmr LLC Has $104.33 Million Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

FMR LLC lowered its position in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 18.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,446,085 shares of the financial services provider's stock after selling 536,292 shares during the quarter. FMR LLC owned approximately 7.41% of TriCo Bancshares worth $104,326,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC acquired a new stake in shares of TriCo Bancshares in the third quarter valued at $678,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TriCo Bancshares during the third quarter worth $210,000. Quest Partners LLC acquired a new position in shares of TriCo Bancshares during the third quarter valued at $588,000. Empowered Funds LLC boosted its holdings in TriCo Bancshares by 5.3% in the third quarter. Empowered Funds LLC now owns 52,834 shares of the financial services provider's stock valued at $2,253,000 after acquiring an additional 2,680 shares during the last quarter. Finally, Curi RMB Capital LLC increased its position in TriCo Bancshares by 1.6% in the third quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider's stock worth $14,792,000 after purchasing an additional 5,314 shares during the period. 59.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

TCBK has been the subject of several analyst reports. Piper Sandler lowered their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. DA Davidson downgraded TriCo Bancshares from a "buy" rating to a "neutral" rating and upped their price objective for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Finally, Stephens cut their target price on TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, TriCo Bancshares presently has a consensus rating of "Hold" and an average price target of $48.20.

TriCo Bancshares Trading Up 0.6 %

NASDAQ:TCBK traded up $0.30 on Thursday, reaching $48.85. The company's stock had a trading volume of 169,413 shares, compared to its average volume of 116,855. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $51.06. The business's 50-day moving average price is $45.13 and its two-hundred day moving average price is $42.61. The firm has a market cap of $1.61 billion, a PE ratio of 14.45 and a beta of 0.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. The business had revenue of $133.84 million during the quarter, compared to analysts' expectations of $98.65 million. Equities research analysts anticipate that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.70%. TriCo Bancshares's payout ratio is 39.29%.

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.