Handelsbanken Fonder AB Takes Position in TriCo Bancshares (NASDAQ:TCBK)

Handelsbanken Fonder AB purchased a new position in TriCo Bancshares (NASDAQ:TCBK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,000 shares of the financial services provider’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TCBK. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of TriCo Bancshares during the third quarter valued at $28,000. Point72 DIFC Ltd bought a new stake in TriCo Bancshares during the 3rd quarter valued at about $114,000. Quantbot Technologies LP purchased a new position in TriCo Bancshares in the third quarter worth about $129,000. Golden State Wealth Management LLC bought a new position in shares of TriCo Bancshares in the fourth quarter worth approximately $212,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of TriCo Bancshares in the third quarter worth approximately $210,000. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

TCBK stock opened at $43.33 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. TriCo Bancshares has a 1 year low of $31.73 and a 1 year high of $51.06. The company has a market cap of $1.43 billion, a P/E ratio of 12.52 and a beta of 0.57. The stock’s fifty day moving average price is $43.71 and its 200-day moving average price is $44.48.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. On average, equities analysts forecast that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, March 7th. This represents a $1.32 annualized dividend and a yield of 3.05%. TriCo Bancshares’s dividend payout ratio (DPR) is 38.15%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TCBK shares. Keefe, Bruyette & Woods reduced their target price on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a report on Tuesday, January 28th. DA Davidson downgraded TriCo Bancshares from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $50.75.

Insider Activity at TriCo Bancshares

In other news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total transaction of $252,297.00. Following the transaction, the director now owns 6,128 shares in the company, valued at $303,152.16. This trade represents a 45.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.64% of the stock is currently owned by company insiders.

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.