Proficio Capital Partners LLC Buys Shares of 41,602 TriCo Bancshares (NASDAQ:TCBK)

Proficio Capital Partners LLC purchased a new position in shares of TriCo Bancshares (NASDAQ:TCBK) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 41,602 shares of the financial services provider’s stock, valued at approximately $1,818,000. Proficio Capital Partners LLC owned 0.13% of TriCo Bancshares as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in TCBK. Barclays PLC boosted its position in TriCo Bancshares by 127.0% during the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock worth $2,468,000 after purchasing an additional 32,379 shares during the period. Assenagon Asset Management S.A. boosted its holdings in 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 buying an additional 30,227 shares during the period. JPMorgan Chase & Co. raised its holdings in TriCo Bancshares by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock valued at $19,041,000 after acquiring an additional 25,817 shares during the period. Cerity Partners LLC purchased a new stake in shares of TriCo Bancshares during the third quarter worth $678,000. Finally, Quest Partners LLC purchased a new stake in shares of TriCo Bancshares during the third quarter worth $588,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price objective on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.75.

TriCo Bancshares Stock Up 0.2 %

Shares of NASDAQ:TCBK opened at $40.93 on Thursday. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 11.83 and a beta of 0.55. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. The firm has a fifty day moving average price of $43.10 and a two-hundred day moving average price of $44.23. 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 (NASDAQ:TCBK) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 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%. Analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, March 7th. TriCo Bancshares’s dividend payout ratio (DPR) is 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.