Dimensional Fund Advisors LP Boosts Holdings in TriCo Bancshares (NASDAQ:TCBK)

Dimensional Fund Advisors LP lifted its stake in TriCo Bancshares (NASDAQ:TCBK) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,502,992 shares of the financial services provider’s stock after purchasing an additional 50,358 shares during the period. Dimensional Fund Advisors LP owned 4.53% of TriCo Bancshares worth $59,471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. lifted its position in shares of TriCo Bancshares by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock worth $15,975,000 after purchasing an additional 86,689 shares during the period. Rhumbline Advisers increased its stake in shares of TriCo Bancshares by 1.8% in the 2nd quarter. Rhumbline Advisers now owns 63,125 shares of the financial services provider’s stock worth $2,498,000 after acquiring an additional 1,109 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of TriCo Bancshares in the 2nd quarter worth about $1,002,000. Principal Financial Group Inc. increased its stake in shares of TriCo Bancshares by 7.5% in the 2nd quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 973 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of TriCo Bancshares by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 758 shares in the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. DA Davidson increased their price target on shares of TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Stephens raised their price objective on shares of TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Piper Sandler raised their price objective on shares of TriCo Bancshares from $47.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, TriCo Bancshares has a consensus rating of “Moderate Buy” and an average target price of $49.80.

TriCo Bancshares Stock Performance

TCBK opened at $42.09 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 12.83 and a beta of 0.54. The company’s 50 day moving average is $43.69 and its 200 day moving average is $39.23. TriCo Bancshares has a 12-month low of $29.38 and a 12-month high of $48.80.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%. The business had revenue of $97.86 million for the quarter, compared to the consensus estimate of $98.55 million. On average, equities research analysts predict that TriCo Bancshares will post 3.3 EPS for the current year.

TriCo Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.14%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s dividend payout ratio is currently 40.24%.

Insider Buying and Selling at TriCo Bancshares

In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $43.11, for a total transaction of $149,376.15. Following the transaction, the director now owns 11,228 shares of the company’s stock, valued at $484,039.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $43.11, for a total transaction of $149,376.15. Following the sale, the director now owns 11,228 shares in the company, valued at $484,039.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael W. Koehnen sold 1,400 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $135,600. The disclosure for this sale can be found here. Insiders own 4.64% of the company’s stock.

TriCo Bancshares Company 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.