Ameriprise Financial Inc. grew its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 12.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,384 shares of the financial services provider’s stock after buying an additional 6,855 shares during the quarter. Ameriprise Financial Inc. owned 0.27% of TriCo Bancshares worth $2,543,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of TriCo Bancshares by 19.7% during the third quarter. Russell Investments Group Ltd. now owns 104,822 shares of the financial services provider’s stock valued at $4,272,000 after buying an additional 17,275 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of TriCo Bancshares by 15.9% in the third quarter. Prudential Financial Inc. now owns 140,338 shares of the financial services provider’s stock worth $5,719,000 after purchasing an additional 19,270 shares during the last quarter. IndexIQ Advisors LLC grew its stake in shares of TriCo Bancshares by 83.2% in the third quarter. IndexIQ Advisors LLC now owns 24,396 shares of the financial services provider’s stock worth $994,000 after purchasing an additional 11,079 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of TriCo Bancshares in the third quarter worth about $440,000. Finally, First Quadrant L P CA bought a new stake in shares of TriCo Bancshares in the third quarter worth about $440,000. 68.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TriCo Bancshares (TCBK) opened at $38.60 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $885.54, a PE ratio of 17.87, a P/E/G ratio of 1.71 and a beta of 0.91. TriCo Bancshares has a 12 month low of $32.66 and a 12 month high of $43.79.
TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Tuesday, October 31st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). The business had revenue of $57.01 million during the quarter, compared to the consensus estimate of $56.99 million. TriCo Bancshares had a return on equity of 10.17% and a net margin of 21.87%. analysts predict that TriCo Bancshares will post 2.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were paid a $0.17 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.76%. TriCo Bancshares’s payout ratio is presently 31.48%.
TCBK has been the topic of several recent analyst reports. Zacks Investment Research cut TriCo Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. FIG Partners cut TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 13th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $43.00 target price on shares of TriCo Bancshares in a research note on Thursday, December 14th. BidaskClub cut TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. Finally, ValuEngine cut TriCo Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $42.67.
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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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