Deprince Race & Zollo Inc. Has $3.34 Million Holdings in TriCo Bancshares $TCBK

Deprince Race & Zollo Inc. cut its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 19.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 70,224 shares of the financial services provider’s stock after selling 16,887 shares during the period. Deprince Race & Zollo Inc.’s holdings in TriCo Bancshares were worth $3,338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TCBK. North Reef Capital Management LP acquired a new stake in shares of TriCo Bancshares during the fourth quarter worth about $22,994,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of TriCo Bancshares in the 3rd quarter valued at approximately $6,972,000. Millennium Management LLC grew its position in shares of TriCo Bancshares by 292.7% in the 3rd quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock valued at $6,009,000 after purchasing an additional 100,858 shares during the period. FJ Capital Management LLC bought a new stake in TriCo Bancshares during the 4th quarter worth approximately $4,381,000. Finally, Jain Global LLC bought a new stake in TriCo Bancshares during the 4th quarter worth approximately $3,613,000. 59.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on TCBK shares. Piper Sandler lifted their price target on shares of TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Zacks Research cut shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.60.

TriCo Bancshares Stock Performance

TCBK opened at $54.54 on Friday. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 13.81 and a beta of 0.60. The business’s 50-day moving average price is $51.11 and its two-hundred day moving average price is $49.72. TriCo Bancshares has a 1 year low of $39.69 and a 1 year high of $55.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Monday, March 2nd. The financial services provider reported $1.03 earnings per share for the quarter. The company 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%. Equities analysts expect that TriCo Bancshares will post 4.22 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a $0.36 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.44 annualized dividend and a yield of 2.6%. TriCo Bancshares’s payout ratio is presently 36.46%.

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.