Deprince Race & Zollo Inc. Sells 13,632 Shares of TriCo Bancshares (NASDAQ:TCBK)

Deprince Race & Zollo Inc. reduced its holdings in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,175 shares of the financial services provider's stock after selling 13,632 shares during the quarter. Deprince Race & Zollo Inc. owned 0.37% of TriCo Bancshares worth $5,339,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TCBK. Barclays PLC raised its holdings in shares of TriCo Bancshares by 127.0% during the third 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 during the period. JPMorgan Chase & Co. lifted its position in shares of TriCo Bancshares by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider's stock valued at $19,041,000 after acquiring an additional 25,817 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in TriCo Bancshares by 23.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider's stock worth $7,035,000 after acquiring an additional 30,227 shares during the period. 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 valued at $68,546,000 after acquiring an additional 37,191 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in TriCo Bancshares in the fourth quarter worth approximately $1,818,000. Institutional investors and hedge funds own 59.11% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TCBK shares. Raymond James cut their target price on shares of TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Stephens reaffirmed an "overweight" rating and set a $47.00 price target on shares of TriCo Bancshares in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut their price target 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 research 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 currently has an average rating of "Moderate Buy" and a consensus target price of $47.80.

TriCo Bancshares Stock Down 0.1%

NASDAQ TCBK traded down $0.05 during trading hours on Wednesday, reaching $41.21. 31,041 shares of the company's stock were exchanged, compared to its average volume of 115,684. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 11.91 and a beta of 0.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a one year low of $35.20 and a one year high of $51.06. The company's 50-day moving average is $39.06 and its two-hundred day moving average is $42.97.

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

TriCo Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, March 7th. This represents a $1.32 annualized dividend and a yield of 3.20%. TriCo Bancshares's payout ratio is currently 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.