JPMorgan Chase & Co. Has $19.03 Million Position in TriCo Bancshares (NASDAQ:TCBK)

JPMorgan Chase & Co. trimmed its holdings in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 435,357 shares of the financial services provider's stock after selling 11,098 shares during the period. JPMorgan Chase & Co. owned 1.32% of TriCo Bancshares worth $19,025,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Ironwood Investment Management LLC raised its position in shares of TriCo Bancshares by 1.6% during the 4th quarter. Ironwood Investment Management LLC now owns 15,670 shares of the financial services provider's stock valued at $685,000 after acquiring an additional 253 shares during the last quarter. LPL Financial LLC grew its stake in shares of 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 purchasing an additional 466 shares during the period. Rhumbline Advisers increased its holdings in TriCo Bancshares by 1.1% in the fourth quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider's stock valued at $2,580,000 after purchasing an additional 652 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in 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 grew its position in shares of TriCo Bancshares by 2.2% during the 3rd quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider's stock worth $2,049,000 after buying an additional 1,013 shares during the period. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

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

TriCo Bancshares Trading Up 1.2 %

TCBK stock traded up $0.44 during midday trading on Tuesday, hitting $36.82. 38,533 shares of the company's stock were exchanged, compared to its average volume of 116,960. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. The stock's fifty day moving average price is $41.19 and its 200-day moving average price is $43.58. The company has a market cap of $1.21 billion, a PE ratio of 10.64 and a beta of 0.53. 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 released 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%. Research analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders 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 3.59%. The ex-dividend date was Friday, March 7th. TriCo Bancshares's dividend payout ratio is 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.