Mirae Asset Global Investments Co. Ltd. Has $611,000 Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 4.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,223 shares of the financial services provider’s stock after purchasing 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 Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP lifted its stake in TriCo Bancshares by 49.6% during the third quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 1,631 shares during the period. Aigen Investment Management LP bought a new position in TriCo Bancshares during the third quarter worth about $213,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in TriCo Bancshares by 39.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,215 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 2,024 shares during the period. Principal Financial Group Inc. bought a new position in TriCo Bancshares during the third quarter worth about $281,000. Finally, Fermata Advisors LLC bought a new position in TriCo Bancshares during the third quarter worth about $329,000. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Stock Performance

NASDAQ:TCBK opened at $34.24 on Friday. TriCo Bancshares has a 1 year low of $28.66 and a 1 year high of $45.84. The firm has a 50 day moving average of $34.34 and a 200-day moving average of $36.11. 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 stock has a market capitalization of $1.14 billion, a P/E ratio of 9.73 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.07). TriCo Bancshares had a net margin of 23.49% and a return on equity of 10.64%. The firm had revenue of $131.95 million during the quarter, compared to the consensus estimate of $101.30 million. As a group, sell-side analysts anticipate that TriCo Bancshares will post 3.25 EPS for the current fiscal year.

TriCo Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.33 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.86%. This is a positive change from TriCo Bancshares’s previous quarterly dividend of $0.30. TriCo Bancshares’s dividend payout ratio (DPR) is currently 37.50%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TCBK. Raymond James raised their price target on shares of TriCo Bancshares from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods cut their price target on shares of TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. DA Davidson cut their target price on shares of TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Finally, StockNews.com cut shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.00.

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.