Jacobs Asset Management LLC Raises Stake in TriCo Bancshares $TCBK

Jacobs Asset Management LLC boosted its position in TriCo Bancshares (NASDAQ:TCBK) by 22.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,500 shares of the financial services provider’s stock after buying an additional 12,500 shares during the quarter. TriCo Bancshares makes up approximately 1.8% of Jacobs Asset Management LLC’s portfolio, making the stock its 22nd biggest position. Jacobs Asset Management LLC owned about 0.21% of TriCo Bancshares worth $3,197,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TCBK. AQR Capital Management LLC boosted its stake in TriCo Bancshares by 28.9% in the first quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider’s stock worth $1,307,000 after buying an additional 7,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of TriCo Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 820 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of TriCo Bancshares by 4.4% in the first quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock worth $25,727,000 after purchasing an additional 27,193 shares during the last quarter. Empowered Funds LLC increased its stake in shares of TriCo Bancshares by 8.4% in the first quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock worth $2,047,000 after buying an additional 3,951 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of TriCo Bancshares by 280.1% in the first quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock worth $1,977,000 after buying an additional 36,443 shares during the period. Hedge funds and other institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Price Performance

TCBK opened at $52.64 on Friday. The stock has a fifty day simple moving average of $50.24 and a two-hundred day simple moving average of $49.31. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 13.33 and a beta of 0.60. TriCo Bancshares has a 12-month low of $36.32 and a 12-month high of $53.18.

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

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a $0.36 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.7%. TriCo Bancshares’s dividend payout ratio is 36.46%.

Wall Street Analyst Weigh In

TCBK has been the topic of several analyst reports. Zacks Research downgraded shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Piper Sandler lifted their target price on shares of TriCo Bancshares from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Weiss Ratings raised shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, TriCo Bancshares has an average rating of “Moderate Buy” and a consensus target price of $54.60.

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.