Deprince Race & Zollo Inc. Sells 16,887 Shares of TriCo Bancshares $TCBK

Deprince Race & Zollo Inc. reduced its position in TriCo Bancshares (NASDAQ:TCBK) by 19.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 70,224 shares of the financial services provider’s stock after selling 16,887 shares during the period. Deprince Race & Zollo Inc. owned 0.22% of TriCo Bancshares worth $3,338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings 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 valued at $1,307,000 after acquiring an additional 7,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in TriCo Bancshares by 4.5% during the 1st 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. lifted its position in TriCo Bancshares by 4.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock valued at $25,727,000 after purchasing an additional 27,193 shares during the period. Empowered Funds LLC lifted its position in TriCo Bancshares by 8.4% during the 1st quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock valued at $2,047,000 after purchasing an additional 3,951 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of TriCo Bancshares by 280.1% in the 1st quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock valued at $1,977,000 after purchasing an additional 36,443 shares during the last quarter. Institutional investors own 59.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Zacks Research cut shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Piper Sandler increased their price objective on shares of TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, TriCo Bancshares has a consensus rating of “Moderate Buy” and an average target price of $54.60.

TriCo Bancshares Trading Down 0.8%

NASDAQ TCBK opened at $54.54 on Friday. The stock has a 50-day simple moving average of $51.11 and a 200 day simple moving average of $49.72. The company has a market capitalization of $1.74 billion, a PE ratio of 13.81 and a beta of 0.60. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. TriCo Bancshares has a 12 month low of $39.69 and a 12 month high of $55.32.

TriCo Bancshares (NASDAQ:TCBK) last issued 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 for the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%. Research 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 was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, June 5th. TriCo Bancshares’s dividend payout ratio is presently 36.46%.

TriCo Bancshares 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.