Millennium Management LLC Has $1.77 Million Stake in TriCo Bancshares (NASDAQ:TCBK)

Millennium Management LLC lowered its stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 51.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 40,459 shares of the financial services provider's stock after selling 42,368 shares during the period. Millennium Management LLC owned approximately 0.12% of TriCo Bancshares worth $1,768,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TCBK. Barclays PLC increased its stake in TriCo Bancshares by 127.0% in the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider's stock valued at $2,468,000 after acquiring an additional 32,379 shares during the period. Golden State Wealth Management LLC bought a new stake in TriCo Bancshares in the fourth quarter valued at about $212,000. Rhumbline Advisers increased its stake in TriCo Bancshares by 1.1% in the fourth quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider's stock valued at $2,580,000 after acquiring an additional 652 shares during the period. Allworth Financial LP increased its stake in TriCo Bancshares by 21.7% in the fourth quarter. Allworth Financial LP now owns 7,937 shares of the financial services provider's stock valued at $341,000 after acquiring an additional 1,413 shares during the period. Finally, Handelsbanken Fonder AB bought a new stake in TriCo Bancshares in the fourth quarter valued at about $218,000. Institutional investors own 59.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James lowered 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. Stephens reissued an "overweight" rating and issued a $47.00 target price on shares of TriCo Bancshares in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods decreased their price objective 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, TriCo Bancshares presently has an average rating of "Moderate Buy" and an average price target of $47.80.

TriCo Bancshares Price Performance

TriCo Bancshares stock traded up $0.63 during trading hours on Friday, hitting $40.29. 87,803 shares of the stock were exchanged, compared to its average volume of 115,682. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $1.32 billion, a P/E ratio of 11.64 and a beta of 0.59. TriCo Bancshares has a 12 month low of $35.20 and a 12 month high of $51.06. The business's 50-day moving average is $38.91 and its two-hundred day moving average is $42.28.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its quarterly earnings data 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. The firm 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 fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, June 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.28%. 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.