Schroder Investment Management Group Sells 79,560 Shares of TriCo Bancshares (NASDAQ:TCBK)

Schroder Investment Management Group reduced its stake in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 22.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 276,051 shares of the financial services provider's stock after selling 79,560 shares during the quarter. Schroder Investment Management Group owned 0.84% of TriCo Bancshares worth $12,014,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TCBK. Cerity Partners LLC bought a new stake in TriCo Bancshares in the third quarter worth about $678,000. Quantbot Technologies LP bought a new stake in shares of TriCo Bancshares in the 3rd quarter worth approximately $129,000. BNP Paribas Financial Markets lifted its stake in 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 valued at $477,000 after purchasing an additional 4,799 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in TriCo Bancshares during the third quarter valued at $28,000. Finally, Point72 DIFC Ltd purchased a new stake in TriCo Bancshares in the third quarter worth $114,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Performance

TriCo Bancshares stock traded up $0.02 during mid-day trading on Tuesday, reaching $36.16. The company's stock had a trading volume of 176,995 shares, compared to its average volume of 115,734. The company has a market capitalization of $1.19 billion, a P/E ratio of 10.45 and a beta of 0.53. The firm's fifty day moving average price is $41.91 and its two-hundred day moving average price is $43.77. 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 quick ratio of 0.86 and a current ratio of 0.86.

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TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.65%. TriCo Bancshares's dividend payout ratio (DPR) is currently 38.15%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods dropped their price target on TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating on the stock in a research 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 data from MarketBeat.com, the company presently has an average 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.