Lindbrook Capital LLC Increases Stock Position in TriCo Bancshares (NASDAQ:TCBK)

Lindbrook Capital LLC increased its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 124.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 793 shares of the financial services provider’s stock after buying an additional 440 shares during the period. Lindbrook Capital LLC’s holdings in TriCo Bancshares were worth $34,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its holdings in TriCo Bancshares by 49.6% during the third quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 1,631 shares in the last quarter. Aigen Investment Management LP purchased a new position in TriCo Bancshares during the third quarter valued at $213,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in TriCo Bancshares by 39.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,215 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 2,024 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of TriCo Bancshares in the third quarter worth about $281,000. Finally, Fermata Advisors LLC purchased a new position in shares of TriCo Bancshares in the third quarter worth about $329,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Price Performance

Shares of TCBK opened at $33.85 on Friday. TriCo Bancshares has a 1-year low of $28.66 and a 1-year high of $45.84. The stock has a market cap of $1.12 billion, a PE ratio of 10.32 and a beta of 0.53. The firm has a 50-day simple moving average of $34.31 and a two-hundred day simple moving average of $36.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.07). TriCo Bancshares had a net margin of 21.25% and a return on equity of 9.87%. The company had revenue of $131.95 million for the quarter, compared to analyst estimates of $101.30 million. As a group, analysts forecast that TriCo Bancshares will post 3.25 EPS for the current year.

TriCo Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from TriCo Bancshares’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.90%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 40.24%.

Analyst Ratings Changes

TCBK has been the topic of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. Raymond James raised their price target on shares of TriCo Bancshares from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. StockNews.com downgraded shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd. Finally, DA Davidson cut their price objective on shares of TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, TriCo Bancshares has an average rating of “Hold” and an average price target of $42.00.

TriCo Bancshares Company 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.