TriCo Bancshares (TCBK) Shares Sold by Rothschild Asset Management Inc.
Rothschild Asset Management Inc. lessened its stake in TriCo Bancshares (NASDAQ:TCBK) by 35.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,648 shares of the financial services provider’s stock after selling 67,462 shares during the period. Rothschild Asset Management Inc. owned about 0.54% of TriCo Bancshares worth $5,039,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of TCBK. FMR LLC increased its stake in shares of TriCo Bancshares by 45.1% in the second quarter. FMR LLC now owns 697,792 shares of the financial services provider’s stock worth $24,527,000 after buying an additional 216,734 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of TriCo Bancshares in the second quarter worth $6,843,000. Vanguard Group Inc. increased its stake in shares of TriCo Bancshares by 5.6% in the first quarter. Vanguard Group Inc. now owns 837,658 shares of the financial services provider’s stock worth $29,762,000 after buying an additional 44,746 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of TriCo Bancshares by 4.6% in the second quarter. Goldman Sachs Group Inc. now owns 780,134 shares of the financial services provider’s stock worth $27,422,000 after buying an additional 34,467 shares during the last quarter. Finally, State Street Corp increased its stake in shares of TriCo Bancshares by 5.8% in the second quarter. State Street Corp now owns 424,641 shares of the financial services provider’s stock worth $14,928,000 after buying an additional 23,302 shares during the last quarter. Institutional investors and hedge funds own 69.56% of the company’s stock.
In other news, EVP Craig B. Carney sold 5,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $36.00, for a total transaction of $180,000.00. Following the completion of the transaction, the executive vice president now owns 18,294 shares of the company’s stock, valued at $658,584. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.10% of the company’s stock.
TCBK has been the subject of several recent research reports. Zacks Investment Research lowered shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. BidaskClub upgraded shares of TriCo Bancshares from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.50.
TriCo Bancshares (NASDAQ:TCBK) opened at $40.60 on Friday. TriCo Bancshares has a 1-year low of $29.01 and a 1-year high of $43.22. The stock has a market cap of $940.83, a price-to-earnings ratio of 19.07, a PEG ratio of 1.87 and a beta of 0.92. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.03). TriCo Bancshares had a net margin of 21.87% and a return on equity of 10.17%. The firm had revenue of $57.01 million for the quarter, compared to analyst estimates of $56.99 million. sell-side analysts expect that TriCo Bancshares will post 2.19 EPS for the current year.
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About TriCo Bancshares
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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