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

Ameriprise Financial Inc. purchased a new position in TriCo Bancshares (NASDAQ:TCBK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,435 shares of the financial services provider's stock, valued at approximately $1,199,000. Ameriprise Financial Inc. owned approximately 0.08% of TriCo Bancshares as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its position in shares of TriCo Bancshares by 800.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider's stock worth $44,000 after acquiring an additional 896 shares during the period. Aquatic Capital Management LLC raised its holdings in TriCo Bancshares by 129.5% during the 4th quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock worth $100,000 after purchasing an additional 1,295 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of TriCo Bancshares by 8.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,347 shares of the financial services provider's stock valued at $146,000 after acquiring an additional 258 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of TriCo Bancshares in the 4th quarter valued at about $203,000. Finally, Pictet Asset Management Holding SA acquired a new stake in TriCo Bancshares during the 4th quarter worth $203,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Stock Down 1.0%

NASDAQ TCBK traded down $0.40 on Wednesday, hitting $39.79. 27,460 shares of the company were exchanged, compared to its average volume of 115,251. 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 cap of $1.31 billion, a PE ratio of 11.50 and a beta of 0.59. The stock has a fifty day moving average of $38.91 and a 200-day moving average of $42.40. TriCo Bancshares has a 12 month low of $35.20 and a 12 month high of $51.06.

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

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.32%. TriCo Bancshares's payout ratio is 38.48%.

Analysts Set New Price Targets

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