8,790 Shares in TriCo Bancshares (NASDAQ:TCBK) Bought by Alps Advisors Inc.

Alps Advisors Inc. bought a new stake in TriCo Bancshares (NASDAQ:TCBK - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,790 shares of the financial services provider's stock, valued at approximately $351,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TCBK. Proficio Capital Partners LLC purchased a new position in TriCo Bancshares in the 4th quarter valued at about $1,818,000. Raymond James Financial Inc. purchased a new position in shares of TriCo Bancshares during the 4th quarter worth about $271,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of TriCo Bancshares by 488.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,996 shares of the financial services provider's stock worth $1,267,000 after acquiring an additional 24,068 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of TriCo Bancshares by 13.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,693 shares of the financial services provider's stock worth $249,000 after acquiring an additional 682 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in shares of TriCo Bancshares during the 4th quarter worth about $371,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TCBK. Raymond James Financial cut their price objective on shares of TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Stephens reissued an "overweight" rating and set a $47.00 target price on shares of TriCo Bancshares in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, TriCo Bancshares currently has an average rating of "Moderate Buy" and an average price target of $47.80.

TriCo Bancshares Stock Up 1.4%

NASDAQ TCBK traded up $0.60 during trading hours on Thursday, reaching $42.58. 110,911 shares of the company traded hands, compared to its average volume of 113,765. TriCo Bancshares has a 12 month low of $35.20 and a 12 month high of $51.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.40 billion, a PE ratio of 12.41 and a beta of 0.60. The company has a 50 day moving average of $40.80 and a two-hundred day moving average of $41.10.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. TriCo Bancshares had a return on equity of 9.28% and a net margin of 21.41%. The firm had revenue of $98.62 million for the quarter, compared to analysts' expectations of $99.59 million. As a group, equities analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Friday, June 6th. TriCo Bancshares's dividend payout ratio (DPR) is presently 38.48%.

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.