TriCo Bancshares (NASDAQ:TCBK) Stock Position Boosted by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC boosted its stake in TriCo Bancshares (NASDAQ:TCBK) by 15.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 117,987 shares of the financial services provider’s stock after acquiring an additional 16,091 shares during the quarter. Mutual of America Capital Management LLC’s holdings in TriCo Bancshares were worth $5,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TCBK. Point72 Middle East FZE acquired a new stake in TriCo Bancshares in the 2nd quarter valued at about $28,000. Lazard Asset Management LLC purchased a new stake in TriCo Bancshares during the second quarter valued at about $28,000. Tower Research Capital LLC TRC lifted its stake in TriCo Bancshares by 631.5% during the first quarter. Tower Research Capital LLC TRC now owns 951 shares of the financial services provider’s stock valued at $39,000 after buying an additional 821 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of TriCo Bancshares by 21.7% in the second quarter. Captrust Financial Advisors now owns 1,853 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 331 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of TriCo Bancshares by 49.6% in the third quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 1,631 shares in the last quarter. Institutional investors own 59.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday. DA Davidson lowered their price target on TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Keefe, Bruyette & Woods lowered their price objective on shares of TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. Finally, Raymond James raised their price objective on shares of TriCo Bancshares from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

TriCo Bancshares Stock Up 0.5 %

Shares of NASDAQ TCBK opened at $32.62 on Monday. The stock has a market cap of $1.09 billion, a PE ratio of 9.27 and a beta of 0.53. The business has a fifty day moving average of $34.55 and a two-hundred day moving average of $36.04. TriCo Bancshares has a 52-week low of $28.66 and a 52-week high of $45.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.07). The company had revenue of $131.95 million for the quarter, compared to the consensus estimate of $101.30 million. TriCo Bancshares had a net margin of 23.49% and a return on equity of 10.64%. As a group, equities research analysts expect that TriCo Bancshares will post 3.25 earnings per share for the current fiscal year.

TriCo Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from TriCo Bancshares’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.05%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 37.50%.

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.