TriCo Bancshares (NASDAQ:TCBK) Shares Purchased by Ironwood Investment Management LLC

Ironwood Investment Management LLC raised its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,670 shares of the financial services provider’s stock after buying an additional 253 shares during the period. Ironwood Investment Management LLC’s holdings in TriCo Bancshares were worth $685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TCBK. Empowered Funds LLC lifted its holdings in TriCo Bancshares by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 52,834 shares of the financial services provider’s stock valued at $2,253,000 after acquiring an additional 2,680 shares during the last quarter. Quest Partners LLC bought a new stake in TriCo Bancshares during the third quarter worth approximately $588,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in TriCo Bancshares in the third quarter worth approximately $210,000. Cerity Partners LLC acquired a new position in shares of TriCo Bancshares in the 3rd quarter worth $678,000. Finally, Quantbot Technologies LP acquired a new stake in shares of TriCo Bancshares during the third quarter worth $129,000. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Trading Up 1.4 %

Shares of NASDAQ:TCBK opened at $41.26 on Friday. The firm has a fifty day moving average of $43.24 and a two-hundred day moving average of $44.35. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $51.06. The firm has a market capitalization of $1.36 billion, a P/E ratio of 11.92 and a beta of 0.55.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates 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 expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm 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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, March 7th. TriCo Bancshares’s payout ratio is presently 38.15%.

Analyst Ratings Changes

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