TriCo Bancshares (NASDAQ:TCBK) Shares Purchased by Chico Wealth RIA

Chico Wealth RIA boosted its stake in TriCo Bancshares (NASDAQ:TCBK) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,954 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the period. TriCo Bancshares makes up about 1.6% of Chico Wealth RIA’s investment portfolio, making the stock its 6th biggest holding. Chico Wealth RIA’s holdings in TriCo Bancshares were worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC grew its stake in shares of TriCo Bancshares by 17.5% during the first quarter. Mutual of America Capital Management LLC now owns 138,616 shares of the financial services provider’s stock valued at $5,098,000 after acquiring an additional 20,629 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of TriCo Bancshares by 200.3% in the 1st quarter. BNP Paribas Financial Markets now owns 24,384 shares of the financial services provider’s stock valued at $897,000 after purchasing an additional 16,263 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of TriCo Bancshares by 58.5% in the 1st quarter. Russell Investments Group Ltd. now owns 98,469 shares of the financial services provider’s stock valued at $3,622,000 after purchasing an additional 36,362 shares in the last quarter. Empowered Funds LLC raised its position in shares of TriCo Bancshares by 135.1% in the 1st quarter. Empowered Funds LLC now owns 46,554 shares of the financial services provider’s stock valued at $1,712,000 after purchasing an additional 26,751 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of TriCo Bancshares in the 1st quarter valued at approximately $489,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TriCo Bancshares

In other news, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $135,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $135,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Cory W. Giese sold 3,465 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the completion of the transaction, the director now directly owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TriCo Bancshares Price Performance

Shares of TCBK opened at $43.97 on Friday. The company has a market cap of $1.46 billion, a P/E ratio of 13.41 and a beta of 0.54. The stock has a fifty day moving average price of $43.32 and a 200 day moving average price of $40.26. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85. TriCo Bancshares has a 12 month low of $29.38 and a 12 month high of $48.80.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. TriCo Bancshares had a return on equity of 9.93% and a net margin of 21.63%. The firm had revenue of $97.86 million during the quarter, compared to the consensus estimate of $98.55 million. On average, research analysts forecast that TriCo Bancshares will post 3.31 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.00%. TriCo Bancshares’s payout ratio is 40.24%.

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.