Bank of America Corp DE decreased its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 40.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,063 shares of the financial services provider’s stock after selling 39,300 shares during the period. Bank of America Corp DE’s holdings in TriCo Bancshares were worth $2,063,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its stake in TriCo Bancshares by 51.7% in the first quarter. Acrospire Investment Management LLC now owns 2,962 shares of the financial services provider’s stock valued at $105,000 after buying an additional 1,010 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in TriCo Bancshares during the first quarter valued at $228,000. Karp Capital Management Corp purchased a new stake in TriCo Bancshares during the first quarter valued at $245,000. O Shaughnessy Asset Management LLC increased its stake in TriCo Bancshares by 5.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 12,441 shares of the financial services provider’s stock valued at $442,000 after buying an additional 637 shares during the last quarter. Finally, American International Group Inc. increased its stake in TriCo Bancshares by 7.2% in the first quarter. American International Group Inc. now owns 12,471 shares of the financial services provider’s stock valued at $443,000 after buying an additional 841 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.
Shares of TriCo Bancshares (TCBK) traded down 1.14% during trading on Friday, hitting $36.34. The stock had a trading volume of 64,047 shares. The stock has a market cap of $833.09 million, a price-to-earnings ratio of 16.75 and a beta of 0.89. The stock’s 50-day moving average is $35.88 and its 200-day moving average is $35.67. TriCo Bancshares has a 12-month low of $25.43 and a 12-month high of $38.58.
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Several research firms have weighed in on TCBK. BidaskClub upgraded TriCo Bancshares from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research raised TriCo Bancshares from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Wednesday, August 2nd. FBR & Co reissued a “hold” rating and issued a $37.00 price objective on shares of TriCo Bancshares in a report on Monday, May 1st. Finally, ValuEngine raised TriCo Bancshares from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. TriCo Bancshares has an average rating of “Hold” and an average price target of $39.00.
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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