Balyasny Asset Management L.P. Has $1.48 Million Stock Position in TriCo Bancshares (NASDAQ:TCBK)

Balyasny Asset Management L.P. boosted its position in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 602.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,841 shares of the financial services provider's stock after purchasing an additional 29,023 shares during the period. Balyasny Asset Management L.P. owned about 0.10% of TriCo Bancshares worth $1,479,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC boosted its holdings in TriCo Bancshares by 800.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 896 shares during the period. Aquatic Capital Management LLC boosted its stake in shares of TriCo Bancshares by 129.5% in the fourth quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock worth $100,000 after buying an additional 1,295 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of 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 buying an additional 258 shares during the last quarter. Aigen Investment Management LP purchased a new position in TriCo Bancshares during the fourth quarter worth approximately $203,000. Finally, Pictet Asset Management Holding SA purchased a new position in shares of TriCo Bancshares in the fourth quarter valued at approximately $203,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TCBK has been the subject of several recent research reports. Keefe, Bruyette & Woods cut their price target on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Stephens reissued an "overweight" rating and issued a $47.00 price objective on shares of TriCo Bancshares in a research report on Monday, April 28th. Finally, 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 research report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, TriCo Bancshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.80.

TriCo Bancshares Stock Down 0.7%

NASDAQ TCBK traded down $0.29 during trading hours on Friday, reaching $41.23. 124,746 shares of the company traded hands, compared to its average volume of 116,125. The company has a 50 day moving average of $39.09 and a two-hundred day moving average of $42.93. 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 12 month low of $35.20 and a 12 month high of $51.06. The stock has a market capitalization of $1.35 billion, a PE ratio of 11.92 and a beta of 0.59.

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 business had revenue of $98.62 million for the quarter, compared to analysts' expectations of $99.59 million. As a group, equities analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.32 annualized dividend and a yield of 3.20%. TriCo Bancshares's payout ratio is 38.48%.

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.