Charles Schwab Investment Management Inc. Has $12.98 Million Holdings in TriCo Bancshares (NASDAQ:TCBK)

Charles Schwab Investment Management Inc. trimmed its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 296,998 shares of the financial services provider’s stock after selling 24,160 shares during the period. Charles Schwab Investment Management Inc. owned 0.90% of TriCo Bancshares worth $12,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of TriCo Bancshares in the 3rd quarter valued at $28,000. Point72 DIFC Ltd acquired a new position in shares of TriCo Bancshares during the third quarter valued at about $114,000. Quantbot Technologies LP acquired a new position in shares of TriCo Bancshares during the third quarter valued at about $129,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in TriCo Bancshares during the 3rd quarter worth approximately $210,000. Finally, Golden State Wealth Management LLC bought a new position in TriCo Bancshares during the 4th quarter valued at $212,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Stock Down 0.2 %

TriCo Bancshares stock opened at $40.39 on Friday. The stock has a fifty day simple moving average of $43.06 and a two-hundred day simple moving average of $44.17. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 11.67 and a beta of 0.55. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. Equities analysts predict that TriCo Bancshares will post 3.35 EPS for the current fiscal 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 paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend was Friday, March 7th. TriCo Bancshares’s dividend payout ratio is presently 38.15%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reduced their price objective 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $50.75.

About TriCo Bancshares

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.