Raymond James & Associates Has $553,000 Stock Position in TriCo Bancshares (NASDAQ:TCBK)

Raymond James & Associates lowered its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 13.0% during the fourth quarter, Holdings Channel reports. The fund owned 12,867 shares of the financial services provider’s stock after selling 1,924 shares during the period. Raymond James & Associates’ holdings in TriCo Bancshares were worth $553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings 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 valued at $4,851,000 after purchasing an additional 35,159 shares in the last quarter. Schroder Investment Management Group raised its position in shares of TriCo Bancshares by 37.6% during 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 during the last quarter. Principal Financial Group Inc. acquired a new position in shares of TriCo Bancshares during the third quarter valued at $281,000. Charles Schwab Investment Management Inc. boosted its holdings in TriCo Bancshares by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 328,219 shares of the financial services provider’s stock valued at $10,513,000 after acquiring an additional 15,757 shares during the last quarter. Finally, Swiss National Bank increased its position in TriCo Bancshares by 0.7% in the third quarter. Swiss National Bank now owns 69,400 shares of the financial services provider’s stock worth $2,223,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Trading Down 1.6 %

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

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

TriCo Bancshares Increases Dividend

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

Analyst Ratings Changes

TCBK has been the topic of a number of research reports. DA Davidson cut their target price on shares of TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. StockNews.com lowered shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Monday. Raymond James lifted their target price on shares of TriCo Bancshares from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Finally, Keefe, Bruyette & Woods cut their price target 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. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.