Balyasny Asset Management L.P. Grows Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

Balyasny Asset Management L.P. grew its position in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 602.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,841 shares of the financial services provider's stock after buying an additional 29,023 shares during the quarter. Balyasny Asset Management L.P. owned 0.10% of TriCo Bancshares worth $1,479,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Ironwood Investment Management LLC grew its holdings in shares of TriCo Bancshares by 1.6% during the fourth quarter. Ironwood Investment Management LLC now owns 15,670 shares of the financial services provider's stock valued at $685,000 after buying an additional 253 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in TriCo Bancshares by 8.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,347 shares of the financial services provider's stock worth $146,000 after purchasing an additional 258 shares during the last quarter. Two Sigma Securities LLC boosted its holdings in TriCo Bancshares by 8.5% in the fourth quarter. Two Sigma Securities LLC now owns 5,668 shares of the financial services provider's stock worth $248,000 after purchasing an additional 446 shares during the last quarter. LPL Financial LLC boosted its holdings in TriCo Bancshares by 4.1% in the fourth quarter. LPL Financial LLC now owns 11,704 shares of the financial services provider's stock worth $511,000 after purchasing an additional 466 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in TriCo Bancshares by 1.1% in the fourth quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider's stock worth $2,580,000 after purchasing an additional 652 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company's stock.

TriCo Bancshares Stock Performance

TCBK traded down $0.18 during trading on Monday, hitting $41.05. The company's stock had a trading volume of 84,974 shares, compared to its average volume of 116,144. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a one year low of $35.20 and a one year high of $51.06. The firm has a market cap of $1.35 billion, a PE ratio of 11.86 and a beta of 0.59. The business's 50 day simple moving average is $39.10 and its 200-day simple moving average is $42.91.

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

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.33 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.32 annualized dividend and a yield of 3.22%. TriCo Bancshares's payout ratio is presently 38.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TCBK shares. Keefe, Bruyette & Woods dropped their target price on shares of TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. 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, Stephens restated an "overweight" rating and issued a $47.00 target price on shares of TriCo Bancshares in a report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $47.80.

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.