TriCo Bancshares (NASDAQ:TCBK) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its holdings in TriCo Bancshares (NASDAQ:TCBK) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,998 shares of the financial services provider’s stock after selling 24,160 shares during the period. Charles Schwab Investment Management Inc.’s holdings in TriCo Bancshares were worth $12,979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TCBK. Proficio Capital Partners LLC acquired a new stake in shares of TriCo Bancshares in the fourth quarter valued at approximately $1,818,000. Barclays PLC increased its holdings in shares of TriCo Bancshares by 127.0% in the 3rd quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock valued at $2,468,000 after acquiring an additional 32,379 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of TriCo Bancshares by 23.1% in 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 during the last quarter. JPMorgan Chase & Co. raised its position in TriCo Bancshares by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock valued at $19,041,000 after purchasing an additional 25,817 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of TriCo Bancshares in the third quarter valued at about $678,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

TCBK stock opened at $40.39 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s fifty day moving average is $43.06 and its two-hundred day moving average is $44.17. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 11.67 and a beta of 0.55. TriCo Bancshares has a 1 year low of $31.73 and a 1 year high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. On average, research analysts predict that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.33 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.32 annualized dividend and a yield of 3.27%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 38.15%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods dropped 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.75.

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.