Northern Trust Corp Decreases Stock Position in TriCo Bancshares (NASDAQ:TCBK)

Northern Trust Corp lessened its position in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 419,718 shares of the financial services provider's stock after selling 6,982 shares during the period. Northern Trust Corp owned about 1.27% of TriCo Bancshares worth $18,342,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Tudor Investment Corp ET AL increased its position in TriCo Bancshares by 62.7% during the fourth quarter. Tudor Investment Corp ET AL now owns 78,908 shares of the financial services provider's stock worth $3,448,000 after purchasing an additional 30,405 shares during the last quarter. Aquatic Capital Management LLC increased its position in TriCo Bancshares by 129.5% during the fourth quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock worth $100,000 after purchasing an additional 1,295 shares during the last quarter. Bolthouse Investments LLC acquired a new position in TriCo Bancshares during the fourth quarter worth approximately $15,457,000. Two Sigma Securities LLC increased its position in TriCo Bancshares by 8.5% during the fourth quarter. Two Sigma Securities LLC now owns 5,668 shares of the financial services provider's stock worth $248,000 after purchasing an additional 446 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in TriCo Bancshares by 8.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,747 shares of the financial services provider's stock worth $1,344,000 after purchasing an additional 2,405 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TCBK. Keefe, Bruyette & Woods dropped 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. Raymond James dropped their price target 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. Finally, Stephens reaffirmed an "overweight" rating and set a $47.00 price target on shares of TriCo Bancshares in a research report on Monday, April 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.80.

TriCo Bancshares Trading Down 0.4%

Shares of TriCo Bancshares stock traded down $0.18 during trading hours on Monday, hitting $41.05. The company's stock had a trading volume of 84,974 shares, compared to its average volume of 116,144. TriCo Bancshares has a 1-year low of $35.20 and a 1-year high of $51.06. The business has a fifty day moving average of $39.10 and a 200 day moving average of $42.91. The company has a market capitalization of $1.35 billion, a PE ratio of 11.86 and a beta of 0.59. 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 (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings data 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. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. The company had revenue of $98.62 million during the quarter, compared to analyst estimates of $99.59 million. As a group, equities analysts forecast that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Friday, March 7th. 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.