TriCo Bancshares (NASDAQ:TCBK) Stock Holdings Decreased by Chico Wealth RIA

Chico Wealth RIA lessened its position in TriCo Bancshares (NASDAQ:TCBK) by 0.7% in the 4th quarter, Holdings Channel reports. The fund owned 43,654 shares of the financial services provider’s stock after selling 300 shares during the period. TriCo Bancshares makes up approximately 1.7% of Chico Wealth RIA’s investment portfolio, making the stock its 6th biggest holding. Chico Wealth RIA’s holdings in TriCo Bancshares were worth $1,908,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of TriCo Bancshares by 127.0% in the third 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 in the last quarter. Geode Capital Management LLC lifted its position in TriCo Bancshares by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock worth $33,344,000 after buying an additional 5,155 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of TriCo Bancshares by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock valued at $19,041,000 after buying an additional 25,817 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of TriCo Bancshares by 23.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock valued at $7,035,000 after acquiring an additional 30,227 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of TriCo Bancshares by 2.2% in the third quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider’s stock worth $2,049,000 after acquiring an additional 1,013 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

NASDAQ:TCBK opened at $44.39 on Tuesday. The firm’s 50-day moving average is $45.40 and its 200-day moving average is $44.46. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 13.21 and a beta of 0.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a 52-week low of $31.73 and a 52-week high of $51.06.

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

TriCo Bancshares Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director Cory W. Giese sold 5,100 shares of the firm’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 transaction of $252,297.00. Following the completion of the sale, the director now owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. This trade represents a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.64% of the stock is owned by corporate insiders.

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.