FourThought Financial LLC Increases Stock Position in TriCo Bancshares (NASDAQ:TCBK)

FourThought Financial LLC grew its position in TriCo Bancshares (NASDAQ:TCBK – Get Rating) by 28.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,770 shares of the financial services provider’s stock after purchasing an additional 392 shares during the period. FourThought Financial LLC’s holdings in TriCo Bancshares were worth $79,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TCBK. FMR LLC grew its position in TriCo Bancshares by 9.2% during the second quarter. FMR LLC now owns 2,936,961 shares of the financial services provider’s stock valued at $134,042,000 after buying an additional 247,826 shares during the period. Vanguard Group Inc. grew its position in TriCo Bancshares by 3.9% during the first quarter. Vanguard Group Inc. now owns 1,418,186 shares of the financial services provider’s stock valued at $56,770,000 after buying an additional 52,760 shares during the period. Dimensional Fund Advisors LP grew its position in TriCo Bancshares by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,281,369 shares of the financial services provider’s stock valued at $57,215,000 after buying an additional 8,698 shares during the period. Franklin Resources Inc. grew its position in TriCo Bancshares by 0.3% during the second quarter. Franklin Resources Inc. now owns 1,239,235 shares of the financial services provider’s stock valued at $56,559,000 after buying an additional 4,144 shares during the period. Finally, Davis Capital Partners LLC grew its position in TriCo Bancshares by 42.5% during the second quarter. Davis Capital Partners LLC now owns 1,000,800 shares of the financial services provider’s stock valued at $45,676,000 after buying an additional 298,700 shares during the period. Hedge funds and other institutional investors own 60.69% of the company’s stock.

TriCo Bancshares Price Performance

Shares of NASDAQ:TCBK opened at $43.44 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.45 billion, a PE ratio of 11.40 and a beta of 0.59. TriCo Bancshares has a twelve month low of $37.41 and a twelve month high of $58.62. The company has a 50-day moving average price of $49.32 and a two-hundred day moving average price of $50.20.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 17th will be given a $0.30 dividend. The ex-dividend date is Thursday, March 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.76%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 31.50%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Stephens reduced their price target on shares of TriCo Bancshares from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Tuesday, January 31st. StockNews.com began coverage on shares of TriCo Bancshares in a research report on Thursday. They set a “hold” rating for the company. Finally, Raymond James cut their target price on shares of TriCo Bancshares from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, January 26th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, TriCo Bancshares currently has an average rating of “Moderate Buy” and an average price target of $57.40.

About TriCo Bancshares

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TriCo Bancshares is a bank holding company, which engages in the provision of banking services to retail customers and small to medium-sized businesses. It offers personal and business accounts, personal and business loans and credit, and personal and business services. The company was founded on October 13, 1981 and is headquartered in Chico, CA.