Mount Yale Investment Advisors LLC Has $4.69 Million Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

Mount Yale Investment Advisors LLC trimmed its holdings in TriCo Bancshares (NASDAQ:TCBK) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,520 shares of the financial services provider’s stock after selling 1,300 shares during the period. Mount Yale Investment Advisors LLC owned about 0.36% of TriCo Bancshares worth $4,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in TCBK. Eagle Asset Management Inc. bought a new stake in TriCo Bancshares during the fourth quarter worth $8,000,000. Sweeney & Michel LLC purchased a new position in TriCo Bancshares during the 1st quarter worth $5,015,000. American Century Companies Inc. grew its stake in shares of TriCo Bancshares by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock worth $15,975,000 after acquiring an additional 86,689 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of TriCo Bancshares by 6.0% in 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 purchasing an additional 86,141 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of TriCo Bancshares by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,414,921 shares of the financial services provider’s stock valued at $60,801,000 after purchasing an additional 64,815 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

TriCo Bancshares Trading Down 3.4 %

Shares of TriCo Bancshares stock opened at $43.56 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $1.45 billion, a P/E ratio of 13.28 and a beta of 0.54. TriCo Bancshares has a 52-week low of $29.38 and a 52-week high of $48.80. The stock’s 50-day simple moving average is $43.94 and its 200 day simple moving average is $38.98.

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

TriCo Bancshares Dividend Announcement

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

Insider Activity

In related news, Director Cory W. Giese sold 3,465 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the sale, the director now owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Cory W. Giese sold 3,465 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the sale, the director now directly owns 11,228 shares in the company, valued at $484,039.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction dated 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 in the company, valued at $135,600. The disclosure for this sale can be found here. 4.64% of the stock is owned by company insiders.

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.