Cubist Systematic Strategies LLC Lowers Holdings in TriCo Bancshares (NASDAQ:TCBK)

Cubist Systematic Strategies LLC reduced its stake in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 83.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,225 shares of the financial services provider's stock after selling 30,443 shares during the period. Cubist Systematic Strategies LLC's holdings in TriCo Bancshares were worth $272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC grew its position in TriCo Bancshares by 127.0% in the 3rd quarter. Barclays PLC now owns 57,879 shares of the financial services provider's stock worth $2,468,000 after purchasing an additional 32,379 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in TriCo Bancshares by 23.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider's stock valued at $7,035,000 after acquiring an additional 30,227 shares during the last quarter. Franklin Resources Inc. boosted its stake in TriCo Bancshares by 2.4% in the fourth quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider's stock valued at $68,546,000 after acquiring an additional 37,191 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in TriCo Bancshares in the fourth quarter valued at about $1,818,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in TriCo Bancshares by 488.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,996 shares of the financial services provider's stock valued at $1,267,000 after acquiring an additional 24,068 shares during the last quarter. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Stock Performance

Shares of TCBK stock traded down $0.32 during trading on Friday, reaching $39.33. 77,110 shares of the company's stock traded hands, compared to its average volume of 115,896. The company has a market capitalization of $1.29 billion, a P/E ratio of 11.37 and a beta of 0.59. 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's 50-day moving average is $39.03 and its 200 day moving average is $42.83. TriCo Bancshares has a 1 year low of $35.20 and a 1 year high of $51.06.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. The company had revenue of $98.62 million for the quarter, compared to analysts' expectations of $99.59 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. Equities research analysts expect that TriCo Bancshares will post 3.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. 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 note on Friday, April 25th. 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 research note on Monday, April 28th. Finally, Stephens reiterated an "overweight" rating and issued a $47.00 target price on shares of TriCo Bancshares in a research note on Monday, April 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.