Dimensional Fund Advisors LP Grows Position in TriCo Bancshares $TCBK

Dimensional Fund Advisors LP grew its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 0.7% in the first quarter, HoldingsChannel.com reports. The fund owned 1,696,463 shares of the financial services provider’s stock after purchasing an additional 11,298 shares during the period. Dimensional Fund Advisors LP owned 0.05% of TriCo Bancshares worth $80,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TCBK. Farther Finance Advisors LLC increased its position in shares of TriCo Bancshares by 40.3% in the fourth quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 211 shares during the last quarter. Federated Hermes Inc. raised its stake in TriCo Bancshares by 17.7% in the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 290 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in TriCo Bancshares by 1.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 30,254 shares of the financial services provider’s stock valued at $1,433,000 after purchasing an additional 329 shares during the last quarter. Sweeney & Michel LLC lifted its position in TriCo Bancshares by 0.3% during the first quarter. Sweeney & Michel LLC now owns 126,082 shares of the financial services provider’s stock valued at $6,318,000 after purchasing an additional 347 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in TriCo Bancshares by 337.5% in the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after buying an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Up 0.1%

Shares of TCBK opened at $57.94 on Friday. TriCo Bancshares has a 1 year low of $39.84 and a 1 year high of $61.71. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a 50 day simple moving average of $54.06 and a two-hundred day simple moving average of $50.99. The firm has a market cap of $1.85 billion, a P/E ratio of 13.89 and a beta of 0.60.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.06 EPS for the quarter, topping the consensus estimate of $1.03 by $0.03. The firm had revenue of $111.88 million for the quarter, compared to the consensus estimate of $110.99 million. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.27%. On average, analysts forecast that TriCo Bancshares will post 4.28 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.5%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 34.53%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TCBK. Stephens lowered shares of TriCo Bancshares from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a report on Wednesday, July 15th. Piper Sandler lifted their price objective on shares of TriCo Bancshares from $61.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research note on Wednesday, July 8th. Finally, Raymond James Financial downgraded TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.60.

TriCo Bancshares Company Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.