Cubist Systematic Strategies LLC Has $272,000 Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

Cubist Systematic Strategies LLC trimmed its position in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 83.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC grew its stake in shares of 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 worth $44,000 after acquiring an additional 896 shares in the last quarter. Aquatic Capital Management LLC increased its stake in TriCo Bancshares by 129.5% in the 4th quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock valued at $100,000 after buying an additional 1,295 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in TriCo Bancshares by 8.4% during the 4th 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 in the last quarter. Aigen Investment Management LP acquired a new position in shares of TriCo Bancshares during the 4th quarter worth about $203,000. Finally, Pictet Asset Management Holding SA acquired a new position in shares of TriCo Bancshares during the 4th quarter worth about $203,000. 59.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports 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 report on Friday, April 25th. Keefe, Bruyette & Woods reduced their target price on shares of TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Finally, Stephens reissued an "overweight" rating and issued a $47.00 price target on shares of TriCo Bancshares in a report on Monday, April 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $47.80.

TriCo Bancshares Price Performance

NASDAQ:TCBK traded down $1.04 during trading hours on Wednesday, reaching $39.99. 99,168 shares of the company were exchanged, compared to its average volume of 115,975. The business has a 50 day moving average of $39.11 and a 200 day moving average of $42.90. TriCo Bancshares has a 1-year low of $35.20 and a 1-year high of $51.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $1.31 billion, a P/E ratio of 11.56 and a beta of 0.59.

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

TriCo Bancshares Dividend Announcement

The firm 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. This represents a $1.32 annualized dividend and a yield of 3.30%. The ex-dividend date was Friday, March 7th. TriCo Bancshares's payout ratio is presently 38.48%.

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.