Russell Investments Group Ltd. Has $2.77 Million Stake in TriCo Bancshares $TCBK

Russell Investments Group Ltd. reduced its holdings in TriCo Bancshares (NASDAQ:TCBK) by 13.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 69,235 shares of the financial services provider’s stock after selling 10,774 shares during the quarter. Russell Investments Group Ltd. owned about 0.21% of TriCo Bancshares worth $2,767,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of TriCo Bancshares by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,839,668 shares of the financial services provider’s stock valued at $73,532,000 after purchasing an additional 27,348 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of TriCo Bancshares by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider’s stock valued at $71,436,000 after purchasing an additional 39,684 shares during the last quarter. Sweeney & Michel LLC acquired a new stake in shares of TriCo Bancshares in the first quarter valued at about $4,963,000. Bridgeway Capital Management LLC grew its position in shares of TriCo Bancshares by 42.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 98,153 shares of the financial services provider’s stock valued at $4,289,000 after purchasing an additional 29,419 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of TriCo Bancshares in the first quarter valued at about $3,568,000. 59.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $45.00 price target (up from $43.00) on shares of TriCo Bancshares in a research report on Friday, July 25th. Piper Sandler raised their price target on TriCo Bancshares from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods lowered their price target on 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. Stephens reiterated an “overweight” rating and issued a $47.00 target price on shares of TriCo Bancshares in a research note on Monday, April 28th. Finally, DA Davidson increased their target price on shares of TriCo Bancshares from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, TriCo Bancshares has an average rating of “Moderate Buy” and an average price target of $47.60.

TriCo Bancshares Stock Up 5.5%

NASDAQ TCBK opened at $44.88 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50-day simple moving average of $41.76 and a 200 day simple moving average of $40.87. TriCo Bancshares has a twelve month low of $35.20 and a twelve month high of $51.06. The stock has a market cap of $1.46 billion, a PE ratio of 13.20 and a beta of 0.64.

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

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.