Ameriprise Financial Inc. cut its stake in TriCo Bancshares (NASDAQ:TCBK) by 12.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,238 shares of the financial services provider’s stock after selling 8,162 shares during the period. Ameriprise Financial Inc. owned about 0.24% of TriCo Bancshares worth $1,963,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its stake in shares of TriCo Bancshares by 51.7% in the first quarter. Acrospire Investment Management LLC now owns 2,962 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,010 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of TriCo Bancshares during the fourth quarter worth $3,364,000. Sei Investments Co. boosted its stake in shares of TriCo Bancshares by 4.2% in the first quarter. Sei Investments Co. now owns 21,072 shares of the financial services provider’s stock worth $749,000 after buying an additional 853 shares during the period. Bank of Montreal Can boosted its stake in shares of TriCo Bancshares by 9.7% in the first quarter. Bank of Montreal Can now owns 43,082 shares of the financial services provider’s stock worth $1,531,000 after buying an additional 3,810 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of TriCo Bancshares by 52.4% in the fourth quarter. Teachers Advisors LLC now owns 68,009 shares of the financial services provider’s stock worth $2,325,000 after buying an additional 23,382 shares during the period. 68.51% of the stock is owned by hedge funds and other institutional investors.
TriCo Bancshares (NASDAQ TCBK) opened at 35.02 on Friday. TriCo Bancshares has a one year low of $23.90 and a one year high of $37.98. The firm has a 50-day moving average of $35.45 and a 200-day moving average of $35.39. The firm has a market cap of $801.01 million, a price-to-earnings ratio of 17.51 and a beta of 0.88.
TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $53.70 million during the quarter, compared to analyst estimates of $56.11 million. TriCo Bancshares had a net margin of 20.92% and a return on equity of 9.63%. Analysts anticipate that TriCo Bancshares will post $2.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Tuesday, June 13th. This is a positive change from TriCo Bancshares’s previous quarterly dividend of $0.15. TriCo Bancshares’s dividend payout ratio (DPR) is 34.00%.
TCBK has been the subject of a number of research reports. FBR & Co initiated coverage on shares of TriCo Bancshares in a research report on Tuesday, April 11th. They set a “mkt perform” rating and a $37.00 price target for the company. Zacks Investment Research cut shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded shares of TriCo Bancshares from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub lowered shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. TriCo Bancshares has an average rating of “Hold” and an average price target of $35.00.
About TriCo Bancshares
TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.
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