Deutsche Bank AG Lowers Stock Position in TriCo Bancshares $TCBK

Deutsche Bank AG cut its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,952 shares of the financial services provider’s stock after selling 2,573 shares during the period. Deutsche Bank AG owned 0.08% of TriCo Bancshares worth $1,117,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of TriCo Bancshares by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,839,668 shares of the financial services provider’s stock worth $73,532,000 after acquiring an additional 27,348 shares during the last quarter. Dimensional Fund Advisors LP grew its position in TriCo Bancshares by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider’s stock valued at $71,436,000 after buying an additional 39,684 shares during the last quarter. Bolthouse Investments LLC purchased a new position in TriCo Bancshares in the 4th quarter valued at $15,457,000. Sweeney & Michel LLC purchased a new position in TriCo Bancshares in the 1st quarter valued at $4,963,000. Finally, Bridgeway Capital Management LLC grew its position in TriCo Bancshares by 42.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 98,153 shares of the financial services provider’s stock valued at $4,289,000 after buying an additional 29,419 shares during the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on TCBK. Raymond James Financial reiterated an “outperform” rating and issued a $45.00 price objective (up from $43.00) on shares of TriCo Bancshares in a research report on Friday, July 25th. Stephens reiterated an “overweight” rating and issued a $47.00 price objective on shares of TriCo Bancshares in a research report on Monday, April 28th. DA Davidson lifted their price objective on shares of TriCo Bancshares from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Piper Sandler lifted their price objective on shares of TriCo Bancshares from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of TriCo Bancshares from $48.00 to $46.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $47.60.

TriCo Bancshares Trading Up 5.5%

NASDAQ:TCBK opened at $44.88 on Friday. The company has a market capitalization of $1.46 billion, a PE ratio of 13.20 and a beta of 0.64. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. TriCo Bancshares has a 52-week low of $35.20 and a 52-week high of $51.06. The stock has a fifty day simple moving average of $41.76 and a 200-day simple moving average of $40.90.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. The business had revenue of $103.61 million during the quarter, compared to the consensus estimate of $101.15 million. TriCo Bancshares had a return on equity of 8.99% and a net margin of 21.11%. On average, equities research analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

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.