Jacobs Asset Management LLC Grows Stake in TriCo Bancshares $TCBK

Jacobs Asset Management LLC raised its stake in TriCo Bancshares (NASDAQ:TCBK) by 22.7% during the fourth quarter, HoldingsChannel reports. The fund owned 67,500 shares of the financial services provider’s stock after buying an additional 12,500 shares during the period. TriCo Bancshares comprises approximately 1.8% of Jacobs Asset Management LLC’s holdings, making the stock its 22nd largest position. Jacobs Asset Management LLC’s holdings in TriCo Bancshares were worth $3,197,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of 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 worth $91,092,000 after acquiring an additional 38,311 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 worth $74,744,000 after acquiring an additional 14,748 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of 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 worth $36,851,000 after acquiring an additional 6,793 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of 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 worth $31,876,000 after acquiring an additional 43,417 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of 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 worth $20,697,000 after acquiring an additional 1,591 shares during the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Piper Sandler increased their target price on TriCo Bancshares from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings upgraded TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Finally, Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating and three have issued 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 Price Performance

NASDAQ TCBK opened at $52.64 on Friday. TriCo Bancshares has a one year low of $36.32 and a one year high of $53.18. The stock has a 50-day moving average of $50.24 and a 200 day moving average of $49.31. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 13.33 and a beta of 0.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Monday, March 2nd. The financial services provider reported $1.03 EPS for the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%.The company had revenue of $111.21 million during the quarter. On average, sell-side analysts forecast that TriCo Bancshares will post 4.22 EPS for the current year.

TriCo Bancshares Announces Dividend

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

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.