Elevation Point Wealth Partners LLC Sells 22,787 Shares of TriCo Bancshares (NASDAQ:TCBK)

Elevation Point Wealth Partners LLC trimmed its stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 70.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,653 shares of the financial services provider's stock after selling 22,787 shares during the period. Elevation Point Wealth Partners LLC's holdings in TriCo Bancshares were worth $386,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings 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 valued at $44,000 after purchasing an additional 896 shares during the last quarter. Aquatic Capital Management LLC grew its position in 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 valued at $100,000 after purchasing an additional 1,295 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in TriCo Bancshares by 591.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider's stock valued at $129,000 after buying an additional 2,524 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. Finally, Aigen Investment Management LP bought a new stake in TriCo Bancshares during the 4th quarter worth about $203,000. 59.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TCBK shares. Raymond James Financial lowered their target price on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Stephens restated an "overweight" rating and issued a $47.00 price target on shares of TriCo Bancshares in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their price objective on 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $47.80.

TriCo Bancshares Stock Performance

NASDAQ:TCBK traded up $0.35 on Friday, hitting $39.13. The company's stock had a trading volume of 97,830 shares, compared to its average volume of 116,077. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. TriCo Bancshares has a one year low of $35.20 and a one year high of $51.06. The stock has a fifty day moving average of $39.39 and a two-hundred day moving average of $41.74. The firm has a market capitalization of $1.29 billion, a P/E ratio of 11.38 and a beta of 0.61.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $98.62 million for the quarter, compared to the consensus estimate of $99.59 million. TriCo Bancshares had a net margin of 21.41% and a return on equity of 9.28%. Research analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.32 annualized dividend and a yield of 3.37%. TriCo Bancshares's dividend payout ratio (DPR) is presently 38.48%.

TriCo Bancshares Company 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.