Boston Advisors LLC cut its position in TriCo Bancshares (NASDAQ:TCBK) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,248 shares of the financial services provider’s stock after selling 6,290 shares during the period. Boston Advisors LLC owned approximately 0.44% of TriCo Bancshares worth $3,559,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its stake in TriCo Bancshares by 7.6% in the fourth quarter. State Street Corp now owns 404,816 shares of the financial services provider’s stock worth $13,836,000 after buying an additional 28,493 shares during the period. Teachers Advisors LLC raised its stake in TriCo Bancshares by 52.4% in the fourth quarter. Teachers Advisors LLC now owns 68,009 shares of the financial services provider’s stock worth $2,325,000 after buying an additional 23,382 shares during the period. Bank of Montreal Can raised its stake in TriCo Bancshares by 9.7% in the first quarter. Bank of Montreal Can now owns 43,082 shares of the financial services provider’s stock worth $1,531,000 after buying an additional 3,810 shares during the period. Nationwide Fund Advisors raised its stake in TriCo Bancshares by 16.9% in the first quarter. Nationwide Fund Advisors now owns 134,034 shares of the financial services provider’s stock worth $4,762,000 after buying an additional 19,379 shares during the period. Finally, Acadian Asset Management LLC raised its stake in TriCo Bancshares by 41.8% in the first quarter. Acadian Asset Management LLC now owns 24,507 shares of the financial services provider’s stock worth $870,000 after buying an additional 7,228 shares during the period. 69.39% of the stock is owned by institutional investors.
Shares of TriCo Bancshares (NASDAQ TCBK) traded up 0.17% during trading on Friday, reaching $35.47. 99,228 shares of the company’s stock were exchanged. The company has a market capitalization of $813.15 million, a P/E ratio of 16.35 and a beta of 0.89. The stock has a 50-day moving average price of $36.11 and a 200 day moving average price of $35.72. TriCo Bancshares has a 12-month low of $25.43 and a 12-month high of $38.58.
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TCBK has been the subject of a number of research reports. FBR & Co reaffirmed a “hold” rating and issued a $37.00 price objective on shares of TriCo Bancshares in a research note on Monday, May 1st. Zacks Investment Research lowered shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. ValuEngine raised shares of TriCo Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub lowered shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.00.
In other news, EVP Craig B. Carney sold 5,000 shares of TriCo Bancshares stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the transaction, the executive vice president now owns 23,998 shares in the company, valued at approximately $893,925.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.10% of the company’s stock.
TriCo Bancshares Company Profile
TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.
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