Sweeney & Michel LLC Purchases Shares of 124,170 TriCo Bancshares (NASDAQ:TCBK)

Sweeney & Michel LLC bought a new position in TriCo Bancshares (NASDAQ:TCBK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 124,170 shares of the financial services provider's stock, valued at approximately $4,963,000. TriCo Bancshares makes up about 2.0% of Sweeney & Michel LLC's holdings, making the stock its 15th biggest position. Sweeney & Michel LLC owned approximately 0.38% of TriCo Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC lifted its position in shares of TriCo Bancshares by 18.1% in the 4th quarter. FMR LLC now owns 2,889,943 shares of the financial services provider's stock worth $126,291,000 after purchasing an additional 443,858 shares during the period. Bolthouse Investments LLC purchased a new stake in TriCo Bancshares in the fourth quarter worth about $15,457,000. Proficio Capital Partners LLC bought a new stake in TriCo Bancshares during the 4th quarter valued at approximately $1,818,000. Dimensional Fund Advisors LP boosted its position in TriCo Bancshares by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider's stock valued at $71,436,000 after acquiring an additional 39,684 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of TriCo Bancshares by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider's stock worth $68,546,000 after acquiring an additional 37,191 shares during the period. 59.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Stephens restated an "overweight" rating and set a $47.00 target price on shares of TriCo Bancshares in a report on Monday, April 28th. Keefe, Bruyette & Woods lowered their price target on shares of TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Finally, Raymond James cut their price objective 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.80.

TriCo Bancshares Price Performance

TriCo Bancshares stock traded down $0.43 during midday trading on Wednesday, reaching $39.76. 65,352 shares of the stock traded hands, compared to its average volume of 115,511. The stock has a market cap of $1.31 billion, a P/E ratio of 11.49 and a beta of 0.59. The stock's fifty day moving average is $38.91 and its 200-day moving average is $42.40. The company has a quick ratio of 0.86, a current 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.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.80 earnings per share (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 analysts' expectations of $99.59 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. As a group, equities research analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

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 paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Friday, June 6th. TriCo Bancshares's dividend payout ratio is currently 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.