Alps Advisors Inc. Takes Position in TriCo Bancshares (NASDAQ:TCBK)

Alps Advisors Inc. acquired a new position in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,790 shares of the financial services provider's stock, valued at approximately $351,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Abound Financial LLC purchased a new stake in shares of TriCo Bancshares in the first quarter valued at approximately $36,000. Sterling Capital Management LLC increased its stake in TriCo Bancshares by 800.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 896 shares during the last quarter. KBC Group NV purchased a new stake in TriCo Bancshares during the first quarter valued at about $61,000. Aquatic Capital Management LLC grew its position in TriCo Bancshares by 129.5% during the fourth quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock valued at $100,000 after acquiring an additional 1,295 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in shares of TriCo Bancshares by 591.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider's stock worth $129,000 after buying an additional 2,524 shares during the period. Institutional investors and hedge funds own 59.11% of the company's stock.

TriCo Bancshares Trading Down 0.9%

TriCo Bancshares stock traded down $0.39 during trading hours on Friday, reaching $42.19. The stock had a trading volume of 83,702 shares, compared to its average volume of 113,247. The company has a fifty day simple moving average of $40.84 and a 200-day simple moving average of $41.07. TriCo Bancshares has a 52 week low of $35.20 and a 52 week high of $51.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $1.39 billion, a PE ratio of 12.30 and a beta of 0.60.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. TriCo Bancshares had a net margin of 21.41% and a return on equity of 9.28%. The company had revenue of $98.62 million during the quarter, compared to analysts' expectations of $99.59 million. Analysts forecast that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.13%. TriCo Bancshares's payout ratio is 38.48%.

Wall Street Analyst Weigh In

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

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.