Ameriprise Financial Inc. Takes Position in TriCo Bancshares (NASDAQ:TCBK)

Ameriprise Financial Inc. acquired a new position in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 27,435 shares of the financial services provider's stock, valued at approximately $1,199,000. Ameriprise Financial Inc. owned 0.08% of TriCo Bancshares as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in TCBK. FMR LLC lifted its holdings in TriCo Bancshares by 18.1% during the 4th quarter. FMR LLC now owns 2,889,943 shares of the financial services provider's stock worth $126,291,000 after buying an additional 443,858 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in TriCo Bancshares by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider's stock worth $71,436,000 after buying an additional 39,684 shares in the last quarter. Franklin Resources Inc. lifted its holdings in TriCo Bancshares by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider's stock worth $68,546,000 after buying an additional 37,191 shares in the last quarter. Bolthouse Investments LLC acquired a new stake in TriCo Bancshares during the 4th quarter worth approximately $15,457,000. Finally, Curi RMB Capital LLC lifted its holdings in TriCo Bancshares by 1.8% during the 4th quarter. Curi RMB Capital LLC now owns 353,104 shares of the financial services provider's stock worth $15,431,000 after buying an additional 6,271 shares in the last quarter. Hedge funds and other institutional investors own 59.11% of the company's stock.

TriCo Bancshares Stock Down 0.1%

NASDAQ:TCBK traded down $0.05 during midday trading on Thursday, hitting $39.66. 97,857 shares of the company were exchanged, compared to its average volume of 115,672. The company has a fifty day simple moving average of $38.90 and a 200 day simple moving average of $42.33. TriCo Bancshares has a fifty-two week low of $35.20 and a fifty-two week 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 0.30. The company has a market capitalization of $1.30 billion, a PE ratio of 11.46 and a beta of 0.59.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. The firm had revenue of $98.62 million for the quarter, compared to analyst estimates of $99.59 million. As a group, equities analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, June 6th. TriCo Bancshares's payout ratio is currently 38.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Raymond James reduced their target price 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 reiterated an "overweight" rating and issued a $47.00 price objective on shares of TriCo Bancshares in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their price objective on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating on the stock in a 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $47.80.

TriCo Bancshares 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.