Rhumbline Advisers Buys 3,416 Shares of TriCo Bancshares (NASDAQ:TCBK)

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Rhumbline Advisers lifted its holdings in TriCo Bancshares (NASDAQ:TCBK) by 8.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 43,028 shares of the financial services provider’s stock after buying an additional 3,416 shares during the quarter. Rhumbline Advisers’ holdings in TriCo Bancshares were worth $1,562,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wells Fargo & Company MN grew its position in shares of TriCo Bancshares by 1.0% in the 2nd quarter. Wells Fargo & Company MN now owns 66,054 shares of the financial services provider’s stock valued at $2,497,000 after purchasing an additional 632 shares during the period. Virginia Retirement Systems ET AL grew its position in shares of TriCo Bancshares by 8.1% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 12,000 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 900 shares during the period. Denali Advisors LLC acquired a new position in shares of TriCo Bancshares in the 2nd quarter valued at approximately $38,000. Bessemer Group Inc. grew its position in shares of TriCo Bancshares by 2.3% in the 2nd quarter. Bessemer Group Inc. now owns 67,900 shares of the financial services provider’s stock valued at $2,567,000 after purchasing an additional 1,500 shares during the period. Finally, RMB Capital Management LLC grew its position in shares of TriCo Bancshares by 1.4% in the 2nd quarter. RMB Capital Management LLC now owns 122,202 shares of the financial services provider’s stock valued at $4,619,000 after purchasing an additional 1,645 shares during the period. Institutional investors and hedge funds own 60.83% of the company’s stock.

In other TriCo Bancshares news, EVP Craig B. Carney sold 5,122 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $36.38, for a total transaction of $186,338.36. Following the completion of the transaction, the executive vice president now owns 20,896 shares of the company’s stock, valued at approximately $760,196.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 10.30% of the company’s stock.

NASDAQ:TCBK opened at $38.59 on Friday. TriCo Bancshares has a twelve month low of $31.05 and a twelve month high of $41.31. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $36.74 and a two-hundred day moving average price of $37.42. The company has a market cap of $1.18 billion, a P/E ratio of 14.35 and a beta of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. TriCo Bancshares had a return on equity of 10.70% and a net margin of 28.45%. The firm had revenue of $78.80 million during the quarter, compared to the consensus estimate of $77.91 million. As a group, analysts anticipate that TriCo Bancshares will post 2.98 earnings per share for the current fiscal year.

TCBK has been the subject of several research analyst reports. ValuEngine lowered TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. BidaskClub upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. Raymond James decreased their price objective on TriCo Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Zacks Investment Research upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Stephens reiterated a “neutral” rating on shares of TriCo Bancshares in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. TriCo Bancshares presently has a consensus rating of “Hold” and a consensus target price of $41.50.

TriCo Bancshares Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.

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Want to see what other hedge funds are holding TCBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TriCo Bancshares (NASDAQ:TCBK).

Institutional Ownership by Quarter for TriCo Bancshares (NASDAQ:TCBK)

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