Bessemer Group Inc. Reduces Stake in TriCo Bancshares (TCBK)

Bessemer Group Inc. decreased its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 43.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 19,300 shares of the financial services provider’s stock after selling 15,000 shares during the quarter. Bessemer Group Inc. owned 0.08% of TriCo Bancshares worth $731,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of TCBK. Schwab Charles Investment Management Inc. increased its holdings in shares of TriCo Bancshares by 7.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 85,361 shares of the financial services provider’s stock worth $3,001,000 after purchasing an additional 5,937 shares during the period. Wells Fargo & Company MN increased its holdings in shares of TriCo Bancshares by 0.4% during the 2nd quarter. Wells Fargo & Company MN now owns 39,785 shares of the financial services provider’s stock worth $1,398,000 after purchasing an additional 141 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of TriCo Bancshares by 0.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 55,529 shares of the financial services provider’s stock worth $1,952,000 after purchasing an additional 291 shares during the period. Northern Trust Corp increased its holdings in shares of TriCo Bancshares by 1.7% during the 2nd quarter. Northern Trust Corp now owns 570,982 shares of the financial services provider’s stock worth $20,069,000 after purchasing an additional 9,571 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of TriCo Bancshares by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 873,001 shares of the financial services provider’s stock worth $30,686,000 after purchasing an additional 35,343 shares during the period. Institutional investors own 69.86% of the company’s stock.

Shares of TriCo Bancshares (NASDAQ TCBK) opened at $37.19 on Friday. 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 has a 12-month low of $32.76 and a 12-month high of $43.79. The firm has a market cap of $834.45, a PE ratio of 21.37, a PEG ratio of 1.38 and a beta of 0.89.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.08). TriCo Bancshares had a net margin of 17.52% and a return on equity of 9.74%. The business had revenue of $57.57 million for the quarter, compared to analyst estimates of $58.45 million. analysts anticipate that TriCo Bancshares will post 2.64 earnings per share for the current year.

Several brokerages have recently weighed in on TCBK. BidaskClub lowered shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Zacks Investment Research upgraded shares of TriCo Bancshares from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Saturday, February 3rd. ValuEngine lowered shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $44.00 target price on shares of TriCo Bancshares in a research report on Wednesday, January 31st. Finally, FIG Partners lowered shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $41.00.

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

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