TriCo Bancshares (NASDAQ:TCBK) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,152 shares of the financial services provider’s stock after selling 614 shares during the quarter. Mutual of America Capital Management LLC’s holdings in TriCo Bancshares were worth $5,819,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TCBK. Versor Investments LP acquired a new position in TriCo Bancshares during the third quarter worth about $699,000. Curi RMB Capital LLC boosted its position in TriCo Bancshares by 1.6% during the third quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider’s stock worth $14,792,000 after acquiring an additional 5,314 shares during the last quarter. Empowered Funds LLC boosted its position in TriCo Bancshares by 5.3% during the third quarter. Empowered Funds LLC now owns 52,834 shares of the financial services provider’s stock worth $2,253,000 after acquiring an additional 2,680 shares during the last quarter. Quest Partners LLC acquired a new position in TriCo Bancshares during the third quarter worth about $588,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in TriCo Bancshares during the third quarter worth about $210,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Price Performance

Shares of TCBK stock opened at $43.33 on Tuesday. The firm’s 50-day moving average is $43.71 and its two-hundred day moving average is $44.48. The company has a market capitalization of $1.43 billion, a PE ratio of 12.52 and a beta of 0.57. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. Analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, March 7th. TriCo Bancshares’s dividend payout ratio (DPR) is 38.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TCBK shares. Keefe, Bruyette & Woods reduced their target price 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, January 28th. DA Davidson downgraded shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $50.00 to $53.00 in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.75.

Insider Activity

In other news, Director Cory W. Giese sold 5,100 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total value of $252,297.00. Following the sale, the director now directly owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.64% of the company’s stock.

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.