Jane Street Group LLC Sells 3,482 Shares of TriCo Bancshares (NASDAQ:TCBK)

Jane Street Group LLC cut its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 10.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,833 shares of the financial services provider’s stock after selling 3,482 shares during the period. Jane Street Group LLC’s holdings in TriCo Bancshares were worth $1,230,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in shares of TriCo Bancshares by 839.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock worth $5,577,000 after buying an additional 116,838 shares in the last quarter. American Century Companies Inc. grew its position in TriCo Bancshares by 27.3% in the second quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock valued at $15,975,000 after acquiring an additional 86,689 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in TriCo Bancshares by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock worth $59,471,000 after acquiring an additional 50,358 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of TriCo Bancshares in the second quarter worth about $1,002,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of TriCo Bancshares by 8.9% in the second quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider’s stock worth $9,333,000 after acquiring an additional 19,224 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

Insider Buying and Selling at TriCo Bancshares

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 transaction, the director now owns 6,128 shares in the company, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TCBK. Stephens decreased their price target on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. DA Davidson cut shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $50.00 to $53.00 in a research note on Tuesday, November 12th. Finally, Piper Sandler dropped their price target on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.20.

TriCo Bancshares Stock Down 1.2 %

NASDAQ:TCBK opened at $44.03 on Friday. TriCo Bancshares has a one year low of $31.73 and a one year 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. The company has a market cap of $1.45 billion, a PE ratio of 13.10 and a beta of 0.56. The firm’s 50 day simple moving average is $46.39 and its 200 day simple moving average is $43.64.

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

TriCo Bancshares Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.00%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 39.29%.

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.