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

Geode Capital Management LLC raised its position in TriCo Bancshares (NASDAQ:TCBK) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 781,650 shares of the financial services provider’s stock after acquiring an additional 5,155 shares during the quarter. Geode Capital Management LLC’s holdings in TriCo Bancshares were worth $33,344,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in TriCo Bancshares by 839.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock valued at $5,577,000 after purchasing an additional 116,838 shares in the last quarter. American Century Companies Inc. boosted its position in 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 valued at $15,975,000 after buying an additional 86,689 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of TriCo Bancshares by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after acquiring an additional 50,358 shares in the last quarter. Barclays PLC increased its position 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 acquiring an additional 32,379 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new position in shares of TriCo Bancshares in the second quarter worth about $1,002,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TCBK. Piper Sandler lowered their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Stephens decreased their price target on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, DA Davidson cut shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and upped their price target for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $48.20.

TriCo Bancshares Trading Up 0.5 %

NASDAQ:TCBK opened at $44.49 on Thursday. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.47 billion, a PE ratio of 13.24 and a beta of 0.56. The business’s 50 day moving average is $46.43 and its two-hundred day moving average is $43.58.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. The firm had revenue of $133.84 million for the quarter, compared to analysts’ expectations of $98.65 million. On average, analysts predict that TriCo Bancshares will post 3.38 EPS for the current year.

TriCo Bancshares Announces Dividend

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

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.