Connor Clark & Lunn Investment Management Ltd. Purchases 24,068 Shares of TriCo Bancshares (NASDAQ:TCBK)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in TriCo Bancshares (NASDAQ:TCBK) by 488.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,996 shares of the financial services provider’s stock after acquiring an additional 24,068 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of TriCo Bancshares worth $1,267,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in shares of TriCo Bancshares by 5.3% during the third quarter. Empowered Funds LLC now owns 52,834 shares of the financial services provider’s stock valued at $2,253,000 after purchasing an additional 2,680 shares in the last quarter. Quest Partners LLC purchased a new position in TriCo Bancshares in the 3rd quarter worth about $588,000. Cerity Partners LLC purchased a new position in TriCo Bancshares in the 3rd quarter worth about $678,000. Quantbot Technologies LP bought a new position in TriCo Bancshares during the 3rd quarter valued at about $129,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of TriCo Bancshares by 75.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,187 shares of the financial services provider’s stock valued at $477,000 after acquiring an additional 4,799 shares during the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

TriCo Bancshares Price Performance

NASDAQ TCBK opened at $40.93 on Thursday. The company has a 50-day moving average price of $43.10 and a 200-day moving average price of $44.23. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.35 billion, a P/E ratio of 11.83 and a beta of 0.55.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. Equities research analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.32 annualized dividend and a yield of 3.23%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 38.15%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.75.

About TriCo Bancshares

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.