Mount Yale Investment Advisors LLC Sells 84,000 Shares of TriCo Bancshares (NASDAQ:TCBK)

Mount Yale Investment Advisors LLC decreased its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 72.1% during the 4th quarter, Holdings Channel reports. The fund owned 32,440 shares of the financial services provider’s stock after selling 84,000 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in TriCo Bancshares were worth $1,418,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC lifted its stake in TriCo Bancshares by 27.1% in the fourth quarter. SG Americas Securities LLC now owns 11,783 shares of the financial services provider’s stock valued at $515,000 after buying an additional 2,512 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in TriCo Bancshares by 23.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock valued at $7,035,000 after buying an additional 30,227 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in TriCo Bancshares by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock valued at $19,041,000 after buying an additional 25,817 shares in the last quarter. Geode Capital Management LLC lifted its stake in TriCo Bancshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock valued at $33,344,000 after buying an additional 5,155 shares in the last quarter. Finally, Barclays PLC lifted its stake in TriCo Bancshares by 127.0% in the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock valued at $2,468,000 after buying an additional 32,379 shares in the last quarter. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Price Performance

Shares of TCBK opened at $44.39 on Tuesday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 13.21 and a beta of 0.58. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $51.06. The company’s fifty day simple moving average is $45.40 and its 200 day simple moving average is $44.46. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. On average, research analysts forecast that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.97%. TriCo Bancshares’s dividend payout ratio (DPR) is 39.29%.

Insiders Place Their Bets

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total transaction of $252,297.00. Following the completion of the transaction, the director now directly 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 SEC, which is available through this hyperlink. Company insiders own 4.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stephens cut their price target on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Piper Sandler lowered their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, DA Davidson downgraded shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $50.25.

TriCo Bancshares Company 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.