Bolthouse Investments LLC Makes New Investment in TriCo Bancshares (NASDAQ:TCBK)

Bolthouse Investments LLC acquired a new position in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 353,718 shares of the financial services provider's stock, valued at approximately $15,457,000. TriCo Bancshares makes up about 14.3% of Bolthouse Investments LLC's investment portfolio, making the stock its biggest position. Bolthouse Investments LLC owned 1.07% of TriCo Bancshares at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TCBK. Sterling Capital Management LLC grew its stake in shares of TriCo Bancshares by 800.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider's stock worth $44,000 after acquiring an additional 896 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of TriCo Bancshares by 8.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,347 shares of the financial services provider's stock valued at $146,000 after buying an additional 258 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of TriCo Bancshares during the fourth quarter valued at approximately $203,000. Pictet Asset Management Holding SA purchased a new position in TriCo Bancshares in the 4th quarter worth approximately $203,000. Finally, Mariner LLC purchased a new stake in TriCo Bancshares during the 4th quarter valued at $204,000. Institutional investors own 59.11% of the company's stock.

TriCo Bancshares Stock Up 1.5 %

Shares of TCBK traded up $0.60 during midday trading on Thursday, hitting $39.18. 35,444 shares of the company's stock traded hands, compared to its average volume of 117,112. The firm's fifty day moving average is $39.61 and its 200-day moving average is $43.25. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 1 year low of $34.62 and a 1 year high of $51.06. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 11.31 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. The firm had revenue of $98.62 million for the quarter, compared to analyst estimates of $99.59 million. As a group, sell-side analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.32 dividend on an annualized basis and a yield of 3.37%. TriCo Bancshares's payout ratio is presently 38.48%.

Analyst Ratings Changes

TCBK has been the subject of several research analyst reports. Stephens reiterated an "overweight" rating and issued a $47.00 price objective on shares of TriCo Bancshares in a report on Monday. Raymond James dropped their target price on shares of TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods cut their price objective on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a report on Monday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $47.80.

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.