TriCo Bancshares (NASDAQ:TCBK) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,634,684 shares of the financial services provider's stock after acquiring an additional 39,684 shares during the period. Dimensional Fund Advisors LP owned approximately 4.95% of TriCo Bancshares worth $71,436,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Barclays PLC increased its position in shares of TriCo Bancshares by 127.0% during the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider's stock valued at $2,468,000 after acquiring an additional 32,379 shares during the last quarter. JPMorgan Chase & Co. increased its stake in TriCo Bancshares by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider's stock worth $19,041,000 after buying an additional 25,817 shares during the period. Assenagon Asset Management S.A. lifted its holdings in TriCo Bancshares by 23.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider's stock worth $7,035,000 after buying an additional 30,227 shares in the last quarter. Franklin Resources Inc. boosted its position in TriCo Bancshares by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider's stock valued at $68,546,000 after buying an additional 37,191 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of TriCo Bancshares in the fourth quarter worth $1,818,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Stock Down 1.2 %

TriCo Bancshares stock opened at $38.58 on Thursday. TriCo Bancshares has a 1-year low of $34.62 and a 1-year high of $51.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $1.27 billion, a PE ratio of 11.15 and a beta of 0.53. The stock's fifty day moving average is $39.61 and its two-hundred day moving average is $43.25.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. The company had revenue of $98.62 million for the quarter, compared to analysts' expectations of $99.59 million. On average, sell-side analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Friday, March 7th. TriCo Bancshares's dividend payout ratio is presently 38.48%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TCBK. Keefe, Bruyette & Woods reduced their price objective on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating on the stock in a research note on Monday. Stephens reiterated an "overweight" rating and issued a $47.00 price objective on shares of TriCo Bancshares in a research note on Monday. Finally, Raymond James reduced their price objective on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.80.

TriCo Bancshares 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.

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