Mutual of America Capital Management LLC Has $5.71 Million Stake in TriCo Bancshares (NASDAQ:TCBK)

Mutual of America Capital Management LLC lowered its stake in TriCo Bancshares (NASDAQ:TCBK) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,766 shares of the financial services provider’s stock after selling 3,664 shares during the period. Mutual of America Capital Management LLC’s holdings in TriCo Bancshares were worth $5,705,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC increased its stake in shares of TriCo Bancshares by 8.2% in the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock valued at $139,000 after buying an additional 287 shares during the period. ProShare Advisors LLC increased its position in TriCo Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 439 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in TriCo Bancshares by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 758 shares during the last quarter. Quadrature Capital Ltd acquired a new position in TriCo Bancshares during the 1st quarter valued at about $489,000. Finally, Principal Financial Group Inc. boosted its stake in shares of TriCo Bancshares by 7.5% in the 2nd quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 973 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

Shares of TriCo Bancshares stock opened at $47.02 on Wednesday. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $50.63. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.55 billion, a PE ratio of 13.99 and a beta of 0.54. The stock’s fifty day simple moving average is $43.95 and its 200 day simple moving average is $41.84.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. The business had revenue of $133.84 million for the quarter, compared to analysts’ expectations of $98.65 million. On average, research analysts predict that TriCo Bancshares will post 3.38 EPS for the current year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Friday, September 6th. TriCo Bancshares’s dividend payout ratio is 39.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler dropped their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Stephens cut their price target on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. DA Davidson lowered TriCo Bancshares from a “buy” rating to a “neutral” rating and increased their target price for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $48.00 target price (up previously from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.20.

Insider Buying and Selling

In related news, Director Michael W. Koehnen sold 1,400 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $135,600. This represents a 31.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.64% of the stock is currently owned by company insiders.

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.