Cubist Systematic Strategies LLC Sells 30,443 Shares of TriCo Bancshares (NASDAQ:TCBK)

Cubist Systematic Strategies LLC cut its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 83.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,225 shares of the financial services provider’s stock after selling 30,443 shares during the period. Cubist Systematic Strategies LLC’s holdings in TriCo Bancshares were worth $272,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ironwood Investment Management LLC increased its position in shares of TriCo Bancshares by 1.6% during the fourth quarter. Ironwood Investment Management LLC now owns 15,670 shares of the financial services provider’s stock worth $685,000 after acquiring an additional 253 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of TriCo Bancshares by 8.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,347 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 258 shares in the last quarter. Two Sigma Securities LLC increased its position in shares of TriCo Bancshares by 8.5% during the fourth quarter. Two Sigma Securities LLC now owns 5,668 shares of the financial services provider’s stock worth $248,000 after acquiring an additional 446 shares in the last quarter. LPL Financial LLC increased its position in shares of TriCo Bancshares by 4.1% during the fourth quarter. LPL Financial LLC now owns 11,704 shares of the financial services provider’s stock worth $511,000 after acquiring an additional 466 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of TriCo Bancshares by 1.1% during the fourth quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider’s stock worth $2,580,000 after acquiring an additional 652 shares in the last quarter. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Stock Down 0.7%

TriCo Bancshares stock opened at $41.23 on Friday. TriCo Bancshares has a fifty-two week low of $35.20 and a fifty-two week high of $51.06. The stock has a market cap of $1.35 billion, a PE ratio of 11.92 and a beta of 0.59. The firm’s 50-day simple moving average is $39.09 and its 200 day simple moving average is $42.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $98.62 million for the quarter, compared to analysts’ expectations of $99.59 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. Research analysts predict that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Friday, March 7th. TriCo Bancshares’s payout ratio is 38.48%.

Analyst Upgrades and Downgrades

TCBK has been the subject of several recent research reports. Raymond James decreased their target price on shares of TriCo Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Keefe, Bruyette & Woods decreased their target price on shares of TriCo Bancshares from $48.00 to $46.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Finally, Stephens restated an “overweight” rating and set a $47.00 price target on shares of TriCo Bancshares in a report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.80.

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.