Quantbot Technologies LP Has $100,000 Holdings in TriCo Bancshares (NASDAQ:TCBK)

Quantbot Technologies LP trimmed its stake in TriCo Bancshares (NASDAQ:TCBK) by 24.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,279 shares of the financial services provider’s stock after selling 752 shares during the period. Quantbot Technologies LP’s holdings in TriCo Bancshares were worth $100,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in TriCo Bancshares during the third quarter worth about $210,000. Cerity Partners LLC acquired a new stake in shares of TriCo Bancshares during the 3rd quarter worth approximately $678,000. BNP Paribas Financial Markets increased its position in shares of TriCo Bancshares by 75.1% during the third quarter. BNP Paribas Financial Markets now owns 11,187 shares of the financial services provider’s stock valued at $477,000 after purchasing an additional 4,799 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of TriCo Bancshares in the third quarter valued at $28,000. Finally, Point72 DIFC Ltd bought a new position in TriCo Bancshares in the third quarter worth $114,000. Institutional investors own 59.11% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.75.

TriCo Bancshares Price Performance

Shares of TCBK stock opened at $39.97 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. The stock’s fifty day simple moving average is $42.82 and its 200 day simple moving average is $44.08. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 11.55 and a beta of 0.55.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, topping 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%. On average, analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, March 7th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 38.15%.

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.