TriCo Bancshares $TCBK Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,922,988 shares of the financial services provider’s stock after acquiring an additional 38,311 shares during the quarter. Vanguard Group Inc. owned about 5.92% of TriCo Bancshares worth $91,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TCBK. Larson Financial Group LLC increased its stake in shares of TriCo Bancshares by 337.5% during the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 459 shares during the last quarter. Farther Finance Advisors LLC increased 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 acquiring an additional 211 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of TriCo Bancshares during the 3rd quarter valued at about $58,000. PNC Financial Services Group Inc. acquired a new position in shares of TriCo Bancshares during the 3rd quarter valued at about $76,000. Finally, Federated Hermes Inc. increased its stake in shares of TriCo Bancshares by 17.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 290 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Zacks Research raised shares of TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Piper Sandler upped their price objective 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. Stephens upped their price objective on shares of TriCo Bancshares from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods upped their price objective on shares of TriCo Bancshares from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, January 26th. Finally, Weiss Ratings raised shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, TriCo Bancshares has an average rating of “Moderate Buy” and a consensus price target of $54.60.

TriCo Bancshares Stock Down 1.4%

TCBK opened at $49.28 on Thursday. The firm has a 50 day moving average price of $48.77 and a 200 day moving average price of $48.44. The company has a market cap of $1.57 billion, a PE ratio of 12.48 and a beta of 0.61. TriCo Bancshares has a 1 year low of $36.32 and a 1 year high of $53.18. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87.

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

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, March 6th. TriCo Bancshares’s dividend payout ratio is 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.