Geode Capital Management LLC Has $33.82 Million Holdings in TriCo Bancshares (NASDAQ:TCBK)

Geode Capital Management LLC reduced its stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 773,617 shares of the financial services provider's stock after selling 8,033 shares during the quarter. Geode Capital Management LLC owned about 2.34% of TriCo Bancshares worth $33,816,000 at the end of the most recent reporting period.

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

TriCo Bancshares Stock Up 3.2 %

TCBK traded up $1.17 during trading hours on Tuesday, hitting $38.10. 98,917 shares of the company's stock were exchanged, compared to its average volume of 117,100. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 1-year low of $33.65 and a 1-year high of $51.06. The stock's 50-day moving average is $40.31 and its two-hundred day moving average is $43.39. The stock has a market cap 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 quarterly earnings data 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 return on equity of 9.63% and a net margin of 21.63%. Sell-side analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently declared 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. This represents a $1.32 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Friday, March 7th. TriCo Bancshares's dividend payout ratio (DPR) is 38.15%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reduced their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating for the company in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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.