UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 8,588 Shares of TriCo Bancshares (NASDAQ:TCBK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 13.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,108 shares of the financial services provider's stock after purchasing an additional 8,588 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.22% of TriCo Bancshares worth $3,151,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Ironwood Investment Management LLC lifted its stake in shares of TriCo Bancshares by 1.6% in the fourth quarter. Ironwood Investment Management LLC now owns 15,670 shares of the financial services provider's stock valued at $685,000 after buying an additional 253 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in TriCo Bancshares by 8.4% in 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 in the last quarter. Two Sigma Securities LLC boosted its stake in TriCo Bancshares by 8.5% during the 4th quarter. Two Sigma Securities LLC now owns 5,668 shares of the financial services provider's stock valued at $248,000 after purchasing an additional 446 shares during the last quarter. LPL Financial LLC increased its holdings in TriCo Bancshares by 4.1% during the 4th quarter. LPL Financial LLC now owns 11,704 shares of the financial services provider's stock worth $511,000 after purchasing an additional 466 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of TriCo Bancshares by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,191 shares of the financial services provider's stock worth $795,000 after purchasing an additional 616 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TCBK. Raymond James cut their target price on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Keefe, Bruyette & Woods reduced 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 note on Monday, April 28th. Finally, Stephens reiterated an "overweight" rating and issued a $47.00 target price on shares of TriCo Bancshares in a report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, TriCo Bancshares currently has a consensus rating of "Moderate Buy" and an average price target of $47.80.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK traded up $0.15 during mid-day trading on Monday, reaching $40.44. 114,885 shares of the company's stock were exchanged, compared to its average volume of 115,858. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 11.69 and a beta of 0.61. The firm has a 50-day moving average price of $38.91 and a two-hundred day moving average price of $42.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. TriCo Bancshares has a 52 week low of $35.20 and a 52 week high of $51.06.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating 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 firm had revenue of $98.62 million for the quarter, compared to analysts' expectations of $99.59 million. Analysts predict that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.26%. TriCo Bancshares's dividend payout ratio is presently 38.48%.

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.