marrick wealth LLC Invests $778,000 in TriCo Bancshares $TCBK

marrick wealth LLC bought a new position in shares of TriCo Bancshares (NASDAQ:TCBK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,414 shares of the financial services provider’s stock, valued at approximately $778,000. TriCo Bancshares makes up about 0.6% of marrick wealth LLC’s holdings, making the stock its 24th biggest position. marrick wealth LLC owned about 0.05% of TriCo Bancshares as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in TriCo Bancshares by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 1,922,988 shares of the financial services provider’s stock valued at $91,092,000 after purchasing an additional 38,311 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in TriCo Bancshares by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,683,048 shares of the financial services provider’s stock valued at $74,744,000 after purchasing an additional 14,748 shares in the last quarter. Geode Capital Management LLC raised its stake in TriCo Bancshares by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 777,826 shares of the financial services provider’s stock valued at $36,851,000 after purchasing an additional 6,793 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in TriCo Bancshares by 6.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 672,905 shares of the financial services provider’s stock valued at $31,876,000 after purchasing an additional 43,417 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in TriCo Bancshares by 0.3% in the third quarter. American Century Companies Inc. now owns 466,052 shares of the financial services provider’s stock valued at $20,697,000 after purchasing an additional 1,591 shares in the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Up 1.2%

TCBK stock opened at $52.64 on Friday. TriCo Bancshares has a 52 week low of $36.32 and a 52 week high of $53.18. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $50.24 and a 200 day simple moving average of $49.31. The company has a market cap of $1.68 billion, a PE ratio of 13.33 and a beta of 0.60.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Monday, March 2nd. The financial services provider reported $1.03 EPS for the quarter. The firm had revenue of $111.21 million during the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%. Sell-side analysts anticipate that TriCo Bancshares will post 4.22 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.44 annualized dividend and a yield of 2.7%. TriCo Bancshares’s payout ratio is presently 36.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Piper Sandler boosted their price target on TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Weiss Ratings raised TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.60.

TriCo Bancshares 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.