Abbrea Capital LLC Buys Shares of 6,004 TriCo Bancshares (NASDAQ:TCBK)

Abbrea Capital LLC acquired a new position in TriCo Bancshares (NASDAQ:TCBK) during the fourth quarter, HoldingsChannel reports. The firm acquired 6,004 shares of the financial services provider’s stock, valued at approximately $258,000.

Other large investors have also modified their holdings of the company. Bailard Inc. acquired a new position in shares of TriCo Bancshares during the 4th quarter valued at $249,000. Lindbrook Capital LLC boosted its position in TriCo Bancshares by 124.6% in the 4th quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock valued at $34,000 after buying an additional 440 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of TriCo Bancshares by 15.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 117,987 shares of the financial services provider’s stock worth $5,070,000 after purchasing an additional 16,091 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of TriCo Bancshares by 4.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,223 shares of the financial services provider’s stock valued at $611,000 after purchasing an additional 580 shares during the period. Finally, American Century Companies Inc. increased its position in shares of TriCo Bancshares by 30.2% in the third quarter. American Century Companies Inc. now owns 151,451 shares of the financial services provider’s stock valued at $4,851,000 after acquiring an additional 35,159 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. DA Davidson lowered their price target on shares of TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating for the company in a report on Friday, January 26th. Raymond James lifted their target price on shares of TriCo Bancshares from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods decreased their price objective on shares of TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Finally, StockNews.com cut shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, TriCo Bancshares presently has a consensus rating of “Hold” and a consensus target price of $42.00.

TriCo Bancshares Stock Performance

NASDAQ TCBK traded down $0.56 during trading hours on Thursday, hitting $34.24. The company had a trading volume of 104,281 shares, compared to its average volume of 116,126. TriCo Bancshares has a fifty-two week low of $28.66 and a fifty-two week high of $45.84. The firm has a market cap of $1.14 billion, a P/E ratio of 9.73 and a beta of 0.53. The business has a fifty day simple moving average of $34.34 and a 200-day simple moving average of $36.11. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.07). The business had revenue of $131.95 million during the quarter, compared to the consensus estimate of $101.30 million. TriCo Bancshares had a return on equity of 10.64% and a net margin of 23.49%. Equities analysts predict that TriCo Bancshares will post 3.25 EPS for the current year.

TriCo Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from TriCo Bancshares’s previous quarterly dividend of $0.30. TriCo Bancshares’s dividend payout ratio is currently 37.50%.

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.