Janus Henderson Group PLC Reduces Stake in TriCo Bancshares (NASDAQ:TCBK)

Janus Henderson Group PLC cut its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 30.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,970 shares of the financial services provider’s stock after selling 6,000 shares during the period. Janus Henderson Group PLC’s holdings in TriCo Bancshares were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of TCBK. Dimensional Fund Advisors LP raised its holdings in TriCo Bancshares by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after buying an additional 50,358 shares during the period. American Century Companies Inc. increased its position in TriCo Bancshares by 27.3% during the second quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock valued at $15,975,000 after acquiring an additional 86,689 shares during the last quarter. Curi RMB Capital LLC raised its stake in shares of TriCo Bancshares by 1.6% in the third quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider’s stock valued at $14,792,000 after acquiring an additional 5,314 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of TriCo Bancshares by 8.9% in the 2nd quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider’s stock worth $9,333,000 after acquiring an additional 19,224 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of TriCo Bancshares by 5.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider’s stock worth $7,305,000 after purchasing an additional 9,723 shares during the period. 59.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

TriCo Bancshares Stock Down 0.8 %

Shares of NASDAQ:TCBK opened at $48.04 on Friday. The business’s 50 day moving average is $46.11 and its 200 day moving average is $43.13. The stock has a market cap of $1.59 billion, a P/E ratio of 14.30 and a beta of 0.56. 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.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, beating 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 analyst estimates of $98.65 million. Sell-side analysts predict that TriCo Bancshares will post 3.38 EPS for the current year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.33 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.32 annualized dividend and a dividend yield of 2.75%. TriCo Bancshares’s payout ratio is presently 39.29%.

Insider Activity

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the company’s stock in a transaction 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 sale, the director now owns 6,128 shares in the company, valued at $303,152.16. This represents a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.64% of the company’s stock.

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.