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

Mutual of America Capital Management LLC decreased its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 owned 0.41% of TriCo Bancshares worth $5,705,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC lifted its position in shares of TriCo Bancshares by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 52,834 shares of the financial services provider’s stock worth $2,253,000 after purchasing an additional 2,680 shares during the last quarter. Curi RMB Capital LLC increased its position in TriCo Bancshares by 1.6% in the 3rd quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider’s stock worth $14,792,000 after buying an additional 5,314 shares during the period. Versor Investments LP acquired a new position in shares of TriCo Bancshares during the third quarter worth approximately $699,000. Chico Wealth RIA boosted its position in shares of TriCo Bancshares by 2.3% in the third quarter. Chico Wealth RIA now owns 43,954 shares of the financial services provider’s stock valued at $1,875,000 after acquiring an additional 1,000 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of TriCo Bancshares by 839.2% in the third quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock worth $5,577,000 after acquiring an additional 116,838 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

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

TriCo Bancshares Price Performance

TriCo Bancshares stock opened at $47.02 on Wednesday. The business has a 50 day simple moving average of $43.95 and a 200 day simple moving average of $41.84. 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 capitalization of $1.55 billion, a PE ratio of 13.99 and a beta of 0.54. TriCo Bancshares has a one year low of $31.73 and a one year high of $50.63.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $98.65 million. On average, sell-side analysts forecast that TriCo Bancshares will post 3.38 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued 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 payout ratio is 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.