TriCo Bancshares $TCBK Position Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,970 shares of the financial services provider’s stock after selling 4,182 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.39% of TriCo Bancshares worth $5,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in TriCo Bancshares by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,839,668 shares of the financial services provider’s stock valued at $73,532,000 after acquiring an additional 27,348 shares in the last quarter. Barnes Wealth Management Group Inc purchased a new position in TriCo Bancshares during the 1st quarter valued at about $303,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in TriCo Bancshares by 64.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,642 shares of the financial services provider’s stock valued at $1,904,000 after acquiring an additional 18,646 shares in the last quarter. KBC Group NV purchased a new position in TriCo Bancshares during the 1st quarter valued at about $61,000. Finally, MQS Management LLC purchased a new position in TriCo Bancshares during the 1st quarter valued at about $542,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Up 0.0%

Shares of TriCo Bancshares stock opened at $42.33 on Wednesday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 12.45 and a beta of 0.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.86. TriCo Bancshares has a 52-week low of $35.20 and a 52-week high of $51.06. The stock has a 50-day simple moving average of $44.20 and a 200-day simple moving average of $41.58.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. TriCo Bancshares had a return on equity of 8.99% and a net margin of 21.11%.The firm had revenue of $103.61 million during the quarter, compared to analyst estimates of $101.15 million. On average, equities research analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a $0.36 dividend. This is an increase from TriCo Bancshares’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, September 5th. This represents a $1.44 annualized dividend and a yield of 3.4%. TriCo Bancshares’s dividend payout ratio is presently 42.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TCBK shares. Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Piper Sandler lifted their price target on TriCo Bancshares from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Raymond James Financial reiterated an “outperform” rating and set a $45.00 price target (up from $43.00) on shares of TriCo Bancshares in a report on Friday, July 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TriCo Bancshares in a report on Wednesday, October 8th. Finally, DA Davidson lifted their price target on TriCo Bancshares from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, TriCo Bancshares presently has an average rating of “Hold” and a consensus target price of $47.60.

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.