CANADA LIFE ASSURANCE Co Sells 5,418 Shares of TriCo Bancshares (NASDAQ:TCBK)

CANADA LIFE ASSURANCE Co trimmed its holdings in TriCo Bancshares (NASDAQ:TCBK) by 25.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,525 shares of the financial services provider’s stock after selling 5,418 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in TriCo Bancshares were worth $678,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC lifted its position in shares of TriCo Bancshares by 18.1% during the fourth quarter. FMR LLC now owns 2,889,943 shares of the financial services provider’s stock worth $126,291,000 after purchasing an additional 443,858 shares during the last quarter. Franklin Resources Inc. increased its stake in TriCo Bancshares by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider’s stock worth $68,546,000 after buying an additional 37,191 shares during the period. JPMorgan Chase & Co. lifted 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 buying an additional 25,817 shares in the last quarter. Bank of New York Mellon Corp boosted its position in TriCo Bancshares by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 169,294 shares of the financial services provider’s stock valued at $7,398,000 after buying an additional 2,875 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake 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 acquiring an additional 30,227 shares in the last quarter. 59.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stephens reiterated an “overweight” rating and issued a $47.00 price target on shares of TriCo Bancshares in a report on Monday. Keefe, Bruyette & Woods lowered their target price on TriCo Bancshares from $48.00 to $46.00 and set a “market perform” rating for the company in a report on Monday. Finally, Raymond James cut their price target on TriCo Bancshares from $48.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $47.80.

TriCo Bancshares Stock Up 1.1 %

NASDAQ:TCBK opened at $39.04 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $1.28 billion, a P/E ratio of 11.28 and a beta of 0.53. The company’s 50-day simple moving average is $39.72 and its 200-day simple moving average is $43.28. TriCo Bancshares has a fifty-two week low of $34.42 and a fifty-two week high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $98.62 million during the quarter, compared to the consensus estimate of $99.59 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. On average, equities analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.38%. The ex-dividend date was Friday, March 7th. TriCo Bancshares’s dividend payout ratio is currently 38.48%.

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.