marrick wealth LLC Takes $778,000 Position in TriCo Bancshares $TCBK

marrick wealth LLC acquired a new stake in TriCo Bancshares (NASDAQ:TCBK) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 16,414 shares of the financial services provider’s stock, valued at approximately $778,000. TriCo Bancshares accounts for about 0.6% of marrick wealth LLC’s holdings, making the stock its 24th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in shares of TriCo Bancshares in the fourth quarter valued at approximately $1,126,000. JPMorgan Chase & Co. increased its stake in shares of TriCo Bancshares by 13.4% in the third quarter. JPMorgan Chase & Co. now owns 361,435 shares of the financial services provider’s stock valued at $16,051,000 after buying an additional 42,657 shares during the period. SG Americas Securities LLC increased its stake in shares of TriCo Bancshares by 136.8% in the fourth quarter. SG Americas Securities LLC now owns 20,389 shares of the financial services provider’s stock valued at $966,000 after buying an additional 11,780 shares during the period. Deprince Race & Zollo Inc. increased its stake in shares of TriCo Bancshares by 15.2% in the fourth quarter. Deprince Race & Zollo Inc. now owns 87,111 shares of the financial services provider’s stock valued at $4,126,000 after buying an additional 11,480 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of TriCo Bancshares by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 1,922,988 shares of the financial services provider’s stock valued at $91,092,000 after buying an additional 38,311 shares during the period. Institutional investors and hedge funds own 59.11% of the company’s stock.

Wall Street Analyst Weigh In

TCBK has been the subject of several recent research reports. Piper Sandler upped their price objective on TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings raised TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Finally, Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, TriCo Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $54.60.

TriCo Bancshares Stock Performance

Shares of TCBK stock opened at $52.64 on Friday. The business’s 50 day simple moving average is $50.24 and its 200 day simple moving average is $49.31. TriCo Bancshares has a one year low of $36.32 and a one year high of $53.18. The stock has a market capitalization of $1.68 billion, a PE ratio of 13.33 and a beta of 0.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Monday, March 2nd. The financial services provider reported $1.03 EPS for the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%.The business had revenue of $111.21 million for the quarter. As a group, research analysts forecast that TriCo Bancshares will post 4.22 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $0.36 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.44 annualized dividend and a yield of 2.7%. TriCo Bancshares’s dividend payout ratio is presently 36.46%.

TriCo Bancshares Company 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.