TriCo Bancshares (NASDAQ:TCBK) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in TriCo Bancshares (NASDAQ:TCBK) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 781,650 shares of the financial services provider’s stock after purchasing an additional 5,155 shares during the quarter. Geode Capital Management LLC owned about 2.37% of TriCo Bancshares worth $33,344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of TriCo Bancshares by 127.0% during the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock worth $2,468,000 after buying an additional 32,379 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in TriCo Bancshares in the 3rd quarter worth approximately $259,000. Stifel Financial Corp grew its stake in TriCo Bancshares by 2.2% in the 3rd 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 period. Point72 DIFC Ltd acquired a new position in TriCo Bancshares in the 3rd quarter valued at $114,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of TriCo Bancshares during the 3rd quarter worth $28,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TCBK. Stephens lowered their price objective on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Piper Sandler dropped their price objective 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. Finally, DA Davidson lowered shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.20.

Insider Activity

In related news, Director Cory W. Giese sold 5,100 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the completion of the sale, the director now directly owns 6,128 shares in the company, valued at approximately $303,152.16. This represents a 45.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.64% of the company’s stock.

TriCo Bancshares Price Performance

TCBK stock opened at $44.49 on Thursday. The company has a market cap of $1.47 billion, a PE ratio of 13.24 and a beta of 0.56. 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 stock has a 50-day moving average price of $46.43 and a two-hundred day moving average price of $43.58. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $51.06.

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. The business had revenue of $133.84 million for the quarter, compared to analyst estimates of $98.65 million. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. As a group, research analysts predict that TriCo Bancshares will post 3.38 EPS for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, December 6th. TriCo Bancshares’s payout ratio is currently 39.29%.

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.