Alliancebernstein L.P. reduced its stake in TriCo Bancshares (NASDAQ:TCBK) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,016 shares of the financial services provider’s stock after selling 600 shares during the period. Alliancebernstein L.P. owned about 0.12% of TriCo Bancshares worth $960,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Acrospire Investment Management LLC raised its position 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 in the last quarter. Karp Capital Management Corp acquired a new stake in TriCo Bancshares during the first quarter valued at approximately $245,000. 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. Oxford Asset Management acquired a new stake in TriCo Bancshares during the first quarter valued at approximately $545,000. Finally, Sei Investments Co. increased its stake in TriCo Bancshares by 4.2% in the first quarter. Sei Investments Co. now owns 21,072 shares of the financial services provider’s stock valued at $749,000 after buying an additional 853 shares during the last quarter. 69.39% of the stock is owned by hedge funds and other institutional investors.
Shares of TriCo Bancshares (TCBK) opened at 35.47 on Friday. The firm’s 50 day moving average price is $36.11 and its 200-day moving average price is $35.72. TriCo Bancshares has a 1-year low of $25.43 and a 1-year high of $38.58. The company has a market capitalization of $813.15 million, a P/E ratio of 16.35 and a beta of 0.89.
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Several equities research analysts recently commented on the company. BidaskClub upgraded TriCo Bancshares from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded TriCo Bancshares from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Wednesday, August 2nd. FBR & Co restated a “hold” rating and set a $37.00 price target on shares of TriCo Bancshares in a research note on Monday, May 1st. Finally, ValuEngine upgraded TriCo Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $39.00.
In other news, EVP Craig B. Carney sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the transaction, the executive vice president now directly owns 23,998 shares in the company, valued at $893,925.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 9.10% of the company’s stock.
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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