TriCo Bancshares (NASDAQ:TCBK) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in TriCo Bancshares (NASDAQ:TCBK) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,223 shares of the financial services provider’s stock after acquiring an additional 580 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in TriCo Bancshares were worth $611,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. American Century Companies Inc. lifted its stake in shares of TriCo Bancshares by 30.2% in the third quarter. American Century Companies Inc. now owns 151,451 shares of the financial services provider’s stock worth $4,851,000 after acquiring an additional 35,159 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of TriCo Bancshares by 37.6% in the third quarter. Schroder Investment Management Group now owns 282,820 shares of the financial services provider’s stock worth $9,059,000 after acquiring an additional 77,221 shares in the last quarter. Numerai GP LLC acquired a new position in shares of TriCo Bancshares in the third quarter worth about $666,000. Aigen Investment Management LP acquired a new position in shares of TriCo Bancshares in the third quarter worth about $213,000. Finally, Rhumbline Advisers lifted its stake in shares of TriCo Bancshares by 1.4% in the third quarter. Rhumbline Advisers now owns 66,865 shares of the financial services provider’s stock worth $2,142,000 after acquiring an additional 943 shares in the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Down 1.6 %

Shares of TriCo Bancshares stock opened at $34.24 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The business’s 50 day simple moving average is $34.34 and its 200-day simple moving average is $36.11. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.73 and a beta of 0.53. TriCo Bancshares has a twelve month low of $28.66 and a twelve month high of $45.84.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.07). The company had revenue of $131.95 million for the quarter, compared to analyst estimates of $101.30 million. TriCo Bancshares had a return on equity of 10.64% and a net margin of 23.49%. Equities research analysts forecast that TriCo Bancshares will post 3.25 earnings per share for the current year.

TriCo Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.86%. This is a boost from TriCo Bancshares’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, March 7th. TriCo Bancshares’s dividend payout ratio is presently 37.50%.

Analyst Ratings Changes

Several analysts have issued reports on TCBK shares. Keefe, Bruyette & Woods cut their price objective on TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. Raymond James upped their price objective on TriCo Bancshares from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. StockNews.com cut TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Monday. Finally, DA Davidson cut their price objective on TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $42.00.

About TriCo Bancshares

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.