Mutual of America Capital Management LLC Has $5.44 Million Stock Position in TriCo Bancshares (NASDAQ:TCBK)

Mutual of America Capital Management LLC lessened its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 137,430 shares of the financial services provider’s stock after selling 1,186 shares during the period. Mutual of America Capital Management LLC owned about 0.41% of TriCo Bancshares worth $5,438,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in shares of TriCo Bancshares by 200.3% during the first quarter. BNP Paribas Financial Markets now owns 24,384 shares of the financial services provider’s stock valued at $897,000 after acquiring an additional 16,263 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of TriCo Bancshares by 58.5% in the first quarter. Russell Investments Group Ltd. now owns 98,469 shares of the financial services provider’s stock valued at $3,622,000 after purchasing an additional 36,362 shares in the last quarter. Empowered Funds LLC boosted its position in shares of TriCo Bancshares by 135.1% in the first quarter. Empowered Funds LLC now owns 46,554 shares of the financial services provider’s stock worth $1,712,000 after buying an additional 26,751 shares during the period. Quadrature Capital Ltd purchased a new position in shares of TriCo Bancshares during the first quarter valued at $489,000. Finally, Franklin Resources Inc. grew its holdings in shares of TriCo Bancshares by 6.0% during the fourth quarter. Franklin Resources Inc. now owns 1,526,919 shares of the financial services provider’s stock valued at $65,612,000 after buying an additional 86,141 shares in the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Performance

Shares of TCBK opened at $43.56 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 12 month low of $29.38 and a 12 month high of $48.80. The company’s fifty day moving average is $43.94 and its 200-day moving average is $38.96. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 13.28 and a beta of 0.54.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. TriCo Bancshares had a return on equity of 9.93% and a net margin of 21.63%. The company had revenue of $97.86 million for the quarter, compared to analyst estimates of $98.55 million. Equities analysts expect that TriCo Bancshares will post 3.3 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.03%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 40.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TCBK shares. DA Davidson raised their price objective on TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Piper Sandler raised their price target on shares of TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $48.00 target price (up previously from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. Stephens boosted their price target on shares of TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Janney Montgomery Scott reiterated a “neutral” rating on shares of TriCo Bancshares in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.80.

Insider Buying and Selling

In related news, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the sale, the director now owns 3,000 shares of the company’s stock, valued at approximately $135,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction that occurred 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 transaction, the director now owns 3,000 shares in the company, valued at $135,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Cory W. Giese sold 3,465 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the transaction, the director now directly owns 11,228 shares in the company, valued at $484,039.08. The disclosure for this sale can be found here. 4.64% of the stock is owned by company insiders.

TriCo Bancshares 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.