Franklin Resources Inc. Has $65.61 Million Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

Franklin Resources Inc. increased its position in TriCo Bancshares (NASDAQ:TCBK) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,526,919 shares of the financial services provider’s stock after buying an additional 86,141 shares during the period. Franklin Resources Inc. owned 4.59% of TriCo Bancshares worth $65,612,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TCBK. Lindbrook Capital LLC grew its stake in shares of TriCo Bancshares by 124.6% in the 4th quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock valued at $34,000 after buying an additional 440 shares during the period. Quadrant Capital Group LLC grew its stake in shares of TriCo Bancshares by 470.9% in the 4th quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock valued at $40,000 after buying an additional 777 shares during the period. Quantbot Technologies LP grew its stake in shares of TriCo Bancshares by 49.6% in the 3rd quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider’s stock valued at $158,000 after buying an additional 1,631 shares during the period. Aigen Investment Management LP acquired a new stake in shares of TriCo Bancshares in the 3rd quarter valued at about $213,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in TriCo Bancshares by 39.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,215 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 2,024 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Stock Performance

Shares of TriCo Bancshares stock traded up $0.54 during mid-day trading on Friday, hitting $37.71. 93,310 shares of the stock were exchanged, compared to its average volume of 110,553. TriCo Bancshares has a 12 month low of $29.38 and a 12 month high of $45.84. The company has a 50-day simple moving average of $35.52 and a 200 day simple moving average of $36.85. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $1.25 billion, a P/E ratio of 11.50 and a beta of 0.54.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.81 by $0.02. The firm had revenue of $131.19 million for the quarter, compared to analysts’ expectations of $99.50 million. TriCo Bancshares had a net margin of 21.25% and a return on equity of 9.75%. Sell-side analysts anticipate that TriCo Bancshares will post 3.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Craig B. Carney sold 757 shares of TriCo Bancshares stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $38.00, for a total value of $28,766.00. Following the sale, the executive vice president now owns 32,325 shares of the company’s stock, valued at approximately $1,228,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TCBK. Raymond James lifted their price target on TriCo Bancshares from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. DA Davidson cut their price target on TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, January 26th. StockNews.com upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods cut their price target on TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.00.

TriCo Bancshares Company Profile

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