Teacher Retirement System of Texas Raises Holdings in TriCo Bancshares (NASDAQ:TCBK)

Teacher Retirement System of Texas increased its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 22.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,344 shares of the financial services provider’s stock after buying an additional 1,864 shares during the quarter. Teacher Retirement System of Texas’ holdings in TriCo Bancshares were worth $413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TCBK. FMR LLC grew its stake in shares of TriCo Bancshares by 18.1% during the fourth quarter. FMR LLC now owns 2,889,943 shares of the financial services provider’s stock worth $126,291,000 after purchasing an additional 443,858 shares in the last quarter. Dimensional Fund Advisors LP raised its position in TriCo Bancshares by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider’s stock worth $71,436,000 after acquiring an additional 39,684 shares during the last quarter. Franklin Resources Inc. boosted its position in TriCo Bancshares by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider’s stock worth $68,546,000 after acquiring an additional 37,191 shares during the last quarter. Bolthouse Investments LLC acquired a new position in shares of TriCo Bancshares in the 4th quarter valued at $15,457,000. Finally, Curi RMB Capital LLC lifted its position in TriCo Bancshares by 1.8% during the fourth quarter. Curi RMB Capital LLC now owns 353,104 shares of the financial services provider’s stock valued at $15,431,000 after buying an additional 6,271 shares in the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TCBK shares. Raymond James Financial cut their target price on shares of TriCo Bancshares from $48.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Stephens reaffirmed an “overweight” rating and issued a $47.00 price target on shares of TriCo Bancshares in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of TriCo Bancshares from $48.00 to $46.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, TriCo Bancshares presently has an average rating of “Moderate Buy” and an average target price of $47.80.

TriCo Bancshares Stock Performance

Shares of NASDAQ:TCBK opened at $42.58 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.15. TriCo Bancshares has a 12-month low of $35.20 and a 12-month high of $51.06. The firm has a market cap of $1.40 billion, a PE ratio of 12.41 and a beta of 0.60. The company’s 50 day moving average price is $40.80 and its two-hundred day moving average price is $41.10.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $98.62 million for the quarter, compared to analyst estimates of $99.59 million. TriCo Bancshares had a return on equity of 9.28% and a net margin of 21.41%. Equities research analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Friday, June 6th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 38.48%.

About TriCo Bancshares

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.