Trexquant Investment LP Has $1.19 Million Stock Position in TriCo Bancshares (NASDAQ:TCBK)

Trexquant Investment LP increased its position in TriCo Bancshares (NASDAQ:TCBK) by 22.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 27,115 shares of the financial services provider’s stock after acquiring an additional 4,965 shares during the period. Trexquant Investment LP’s holdings in TriCo Bancshares were worth $1,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in TriCo Bancshares by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider’s stock worth $68,546,000 after buying an additional 37,191 shares during the last quarter. Geode Capital Management LLC boosted its holdings in TriCo Bancshares by 0.7% during the third quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock worth $33,344,000 after buying an additional 5,155 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in TriCo Bancshares by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock worth $19,041,000 after buying an additional 25,817 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in TriCo Bancshares by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 169,294 shares of the financial services provider’s stock worth $7,398,000 after buying an additional 2,875 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of TriCo Bancshares by 23.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock valued at $7,035,000 after purchasing an additional 30,227 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods cut their price objective on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $50.75.

TriCo Bancshares Stock Down 5.2 %

TCBK stock opened at $35.90 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.18 billion, a PE ratio of 10.38 and a beta of 0.53. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $51.06. The business’s 50 day simple moving average is $41.52 and its 200 day simple moving average is $43.64.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) 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%. As a group, research analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The business also recently announced 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. The ex-dividend date was Friday, March 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.68%. TriCo Bancshares’s 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.