TriCo Bancshares (NASDAQ:TCBK) Shares Sold by Chico Wealth RIA

Chico Wealth RIA lessened its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,654 shares of the financial services provider’s stock after selling 300 shares during the period. TriCo Bancshares comprises 1.7% of Chico Wealth RIA’s portfolio, making the stock its 6th largest position. Chico Wealth RIA owned 0.13% of TriCo Bancshares worth $1,908,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of TriCo Bancshares by 27.1% in the 4th 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 period. Assenagon Asset Management S.A. lifted its holdings in TriCo Bancshares by 23.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock worth $7,035,000 after acquiring an additional 30,227 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in TriCo Bancshares by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock valued at $19,041,000 after acquiring an additional 25,817 shares during the period. Geode Capital Management LLC grew its holdings in shares of TriCo Bancshares by 0.7% during the third quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock valued at $33,344,000 after purchasing an additional 5,155 shares during the last quarter. Finally, Barclays PLC raised its position in shares of TriCo Bancshares by 127.0% during the 3rd quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock worth $2,468,000 after purchasing an additional 32,379 shares during the period. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Up 1.6 %

TriCo Bancshares stock opened at $44.39 on Tuesday. The company’s 50-day moving average price is $45.40 and its two-hundred day moving average price is $44.46. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 13.21 and a beta of 0.58. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. On average, analysts expect that TriCo Bancshares will post 3.38 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.97%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 39.29%.

Insider Buying and Selling at TriCo Bancshares

In other news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the completion of the sale, the director now directly owns 6,128 shares of the company’s stock, valued at $303,152.16. This trade represents a 45.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TCBK. Stephens lowered their price objective on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Piper Sandler dropped their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. DA Davidson lowered shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, TriCo Bancshares currently has a consensus rating of “Hold” and an average price target of $50.75.

TriCo Bancshares 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.