Mutual of America Capital Management LLC Decreases Stake in TriCo Bancshares (NASDAQ:TCBK)

Mutual of America Capital Management LLC lessened its holdings in shares of TriCo Bancshares (NASDAQ:TCBK) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,152 shares of the financial services provider’s stock after selling 614 shares during the period. Mutual of America Capital Management LLC owned approximately 0.40% of TriCo Bancshares worth $5,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of TriCo Bancshares during the third quarter worth $28,000. Point72 DIFC Ltd purchased a new position in shares of TriCo Bancshares during the third quarter worth $114,000. Quantbot Technologies LP purchased a new position in shares of TriCo Bancshares during the third quarter worth $129,000. Golden State Wealth Management LLC purchased a new position in shares of TriCo Bancshares during the fourth quarter worth $212,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of TriCo Bancshares during the third quarter worth $210,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Insider Activity

In other news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total value of $252,297.00. Following the sale, the director now owns 6,128 shares in the company, valued at $303,152.16. This trade represents a 45.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TCBK. Keefe, Bruyette & Woods reduced their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a report on Tuesday, January 28th. DA Davidson lowered shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their price target for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, TriCo Bancshares has a consensus rating of “Hold” and a consensus price target of $50.75.

TriCo Bancshares Stock Down 0.9 %

TCBK stock opened at $43.33 on Tuesday. The firm has a market cap of $1.43 billion, a PE ratio of 12.52 and a beta of 0.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day moving average is $43.71 and its 200 day moving average is $44.48. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. On average, research analysts forecast that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.32 annualized dividend and a dividend yield of 3.05%. TriCo Bancshares’s dividend payout ratio (DPR) is 38.15%.

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.