Dimensional Fund Advisors LP Increases Stake in TriCo Bancshares $TCBK

Dimensional Fund Advisors LP boosted its position in TriCo Bancshares (NASDAQ:TCBK) by 0.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,696,463 shares of the financial services provider’s stock after acquiring an additional 11,298 shares during the period. Dimensional Fund Advisors LP owned 5.32% of TriCo Bancshares worth $80,650,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TCBK. Larson Financial Group LLC increased its stake in shares of TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 459 shares in the last quarter. Danske Bank A S bought a new stake in shares of TriCo Bancshares in the fourth quarter valued at approximately $28,000. Farther Finance Advisors LLC lifted its stake in shares of TriCo Bancshares by 40.3% during the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after buying an additional 211 shares in the last quarter. Abound Financial LLC purchased a new stake in shares of TriCo Bancshares during the 4th quarter valued at approximately $43,000. Finally, Parallel Advisors LLC boosted its holdings in TriCo Bancshares by 88.5% in the 1st quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock worth $68,000 after buying an additional 676 shares during the period. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Price Performance

TCBK stock opened at $57.94 on Friday. The firm has a 50 day moving average of $54.06 and a 200-day moving average of $50.99. The firm has a market capitalization of $1.85 billion, a P/E ratio of 13.89 and a beta of 0.60. TriCo Bancshares has a 12 month low of $39.84 and a 12 month high of $61.71. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.27%. The business had revenue of $111.88 million for the quarter, compared to analyst estimates of $110.99 million. As a group, sell-side analysts predict that TriCo Bancshares will post 4.28 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a $0.36 dividend. 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 is presently 34.53%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TCBK shares. Stephens lowered shares of TriCo Bancshares from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a research note on Wednesday, July 15th. Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Raymond James Financial lowered TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Piper Sandler lifted their price target on TriCo Bancshares from $61.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday. Finally, DA Davidson decreased their price objective on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.60.

About TriCo Bancshares

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.