Jacobs Levy Equity Management Inc. Makes New $605,000 Investment in TriCo Bancshares (NASDAQ:TCBK)

Jacobs Levy Equity Management Inc. purchased a new position in TriCo Bancshares (NASDAQ:TCBK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,843 shares of the financial services provider’s stock, valued at approximately $605,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC grew its holdings in shares of TriCo Bancshares by 127.0% during the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock valued at $2,468,000 after buying an additional 32,379 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of TriCo Bancshares by 23.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock valued at $7,035,000 after buying an additional 30,227 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of TriCo Bancshares by 27.1% during the fourth quarter. SG Americas Securities LLC now owns 11,783 shares of the financial services provider’s stock valued at $515,000 after buying an additional 2,512 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of TriCo Bancshares during the fourth quarter valued at $212,000. Finally, Rhumbline Advisers grew its holdings in shares of TriCo Bancshares by 1.1% during the fourth quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider’s stock valued at $2,580,000 after buying an additional 652 shares during the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

TriCo Bancshares Price Performance

NASDAQ:TCBK opened at $41.23 on Friday. TriCo Bancshares has a one year low of $35.20 and a one year high of $51.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 11.92 and a beta of 0.59. The firm’s fifty day moving average is $39.09 and its two-hundred day moving average is $42.92.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. The company had revenue of $98.62 million for the quarter, compared to analyst estimates of $99.59 million. Research analysts expect that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.33 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.20%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 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.