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

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

A number of other institutional investors and hedge funds have also modified their holdings of TCBK. Barclays PLC grew its holdings in shares of TriCo Bancshares by 127.0% in the 3rd quarter. Barclays PLC now owns 57,879 shares of the financial services provider's stock worth $2,468,000 after acquiring an additional 32,379 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of TriCo Bancshares by 23.1% in 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. SG Americas Securities LLC lifted its holdings in TriCo Bancshares by 27.1% in the 4th quarter. SG Americas Securities LLC now owns 11,783 shares of the financial services provider's stock valued at $515,000 after purchasing an additional 2,512 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in TriCo Bancshares in the 4th quarter valued at about $212,000. Finally, Rhumbline Advisers lifted its holdings in TriCo Bancshares by 1.1% in the 4th quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider's stock valued at $2,580,000 after purchasing an additional 652 shares in the last quarter. Institutional investors and hedge funds own 59.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TCBK shares. Raymond James reduced their price target on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Keefe, Bruyette & Woods reduced 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. Finally, Stephens reissued an "overweight" rating and set a $47.00 price target on shares of TriCo Bancshares in a research note on Monday, April 28th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, TriCo Bancshares currently has an average rating of "Moderate Buy" and a consensus target price of $47.80.

TriCo Bancshares Trading Down 0.7%

Shares of TCBK stock traded down $0.29 on Friday, reaching $41.23. 124,746 shares of the stock were exchanged, compared to its average volume of 116,125. The stock has a market cap of $1.35 billion, a P/E ratio of 11.92 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. The firm has a 50 day moving average of $39.09 and a two-hundred day moving average of $42.93. TriCo Bancshares has a 1-year low of $35.20 and a 1-year high of $51.06.

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, topping analysts' consensus estimates of $0.78 by $0.02. The business had revenue of $98.62 million during the quarter, compared to the consensus estimate of $99.59 million. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. On average, research analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.33 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.32 annualized dividend and a yield of 3.20%. 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.