Jane Street Group LLC Sells 3,482 Shares of TriCo Bancshares (NASDAQ:TCBK)

Jane Street Group LLC cut its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 10.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,833 shares of the financial services provider’s stock after selling 3,482 shares during the period. Jane Street Group LLC owned 0.09% of TriCo Bancshares worth $1,230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in 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 worth $59,471,000 after purchasing an additional 50,358 shares during the period. American Century Companies Inc. lifted its position in shares of TriCo Bancshares by 27.3% in 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 buying an additional 86,689 shares during the last quarter. Curi RMB Capital LLC boosted its stake in shares of TriCo Bancshares by 1.6% during the 3rd quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider’s stock worth $14,792,000 after acquiring an additional 5,314 shares during the period. Renaissance Technologies LLC increased its holdings in shares of TriCo Bancshares by 8.9% during 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 increased its holdings 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 acquiring an additional 9,723 shares during the last quarter. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Trading Down 1.2 %

Shares of TriCo Bancshares stock opened at $44.03 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50-day moving average of $46.39 and a 200-day moving average of $43.64. TriCo Bancshares has a 52-week low of $31.73 and a 52-week high of $51.06. The stock has a market cap of $1.45 billion, a PE ratio of 13.10 and a beta of 0.56.

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

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 39.29%.

Insider Buying and Selling

In related news, Director Cory W. Giese sold 5,100 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the completion of the transaction, the director now owns 6,128 shares of the company’s stock, valued at $303,152.16. The trade was a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.