UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 7,313 Shares of TriCo Bancshares (NASDAQ:TCBK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 10.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 63,520 shares of the financial services provider’s stock after selling 7,313 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.19% of TriCo Bancshares worth $2,709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in TriCo Bancshares by 5.6% during the second quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider’s stock valued at $7,305,000 after purchasing an additional 9,723 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of TriCo Bancshares by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after buying an additional 758 shares in the last quarter. Principal Financial Group Inc. boosted its stake in TriCo Bancshares by 7.5% in the second quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock worth $553,000 after buying an additional 973 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in TriCo Bancshares in the second quarter worth approximately $1,002,000. Finally, Rhumbline Advisers boosted its stake in TriCo Bancshares by 1.8% in the second quarter. Rhumbline Advisers now owns 63,125 shares of the financial services provider’s stock worth $2,498,000 after buying an additional 1,109 shares in the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TriCo Bancshares

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the firm’s 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 completion of the sale, the director now directly 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 filing with the SEC, which is available at this link. 4.64% of the stock is owned by corporate insiders.

TriCo Bancshares Trading Down 0.8 %

NASDAQ:TCBK opened at $48.04 on Friday. The company has a fifty day moving average of $46.11 and a 200 day moving average of $43.13. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06. The firm has a market capitalization of $1.59 billion, a P/E ratio of 14.30 and a beta of 0.56. 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 posted its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The company had revenue of $133.84 million during the quarter, compared to analyst estimates of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. On average, research analysts predict that TriCo Bancshares will post 3.38 earnings per share for the current year.

TriCo Bancshares Announces Dividend

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

Analyst Ratings Changes

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

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.