ProShare Advisors LLC Has $6.13 Million Stock Position in TriCo Bancshares $TCBK

ProShare Advisors LLC reduced its stake in TriCo Bancshares (NASDAQ:TCBK) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,364 shares of the financial services provider’s stock after selling 13,615 shares during the quarter. ProShare Advisors LLC owned about 0.40% of TriCo Bancshares worth $6,128,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in shares of TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 459 shares during the period. Danske Bank A S acquired a new position in shares of TriCo Bancshares in the fourth quarter worth approximately $28,000. Farther Finance Advisors LLC lifted its stake in shares of TriCo Bancshares by 40.3% in the fourth quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 211 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of TriCo Bancshares in the third quarter worth approximately $58,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of TriCo Bancshares in the third quarter worth approximately $76,000. 59.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TCBK shares. DA Davidson lifted their price objective on TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Stephens boosted their price target on TriCo Bancshares from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods boosted their price target on TriCo Bancshares from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, January 26th. Zacks Research raised TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Finally, Weiss Ratings raised TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.60.

TriCo Bancshares Price Performance

Shares of TCBK opened at $50.68 on Friday. TriCo Bancshares has a 52-week low of $36.32 and a 52-week high of $53.18. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.87. The business’s 50 day moving average price is $49.07 and its two-hundred day moving average price is $48.71. The firm has a market cap of $1.62 billion, a PE ratio of 12.83 and a beta of 0.61.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Monday, March 2nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%.The firm had revenue of $111.21 million for the quarter. On average, equities analysts anticipate that TriCo Bancshares will post 4.22 EPS for the current year.

TriCo Bancshares Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.