Mount Yale Investment Advisors LLC Sells 2,080 Shares of TriCo Bancshares (NASDAQ:TCBK)

Mount Yale Investment Advisors LLC decreased its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 1.8% in the third quarter, Holdings Channel reports. The institutional investor owned 116,440 shares of the financial services provider’s stock after selling 2,080 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in TriCo Bancshares were worth $4,966,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its position in shares of TriCo Bancshares by 839.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock worth $5,577,000 after purchasing an additional 116,838 shares during the last quarter. Sweeney & Michel LLC increased its holdings in TriCo Bancshares by 3.7% in the 3rd quarter. Sweeney & Michel LLC now owns 137,599 shares of the financial services provider’s stock worth $6,171,000 after buying an additional 4,921 shares in the last quarter. Creative Planning grew its stake in shares of TriCo Bancshares by 14.1% in the third quarter. Creative Planning now owns 24,468 shares of the financial services provider’s stock worth $1,044,000 after acquiring an additional 3,021 shares during the period. SG Americas Securities LLC bought a new stake in TriCo Bancshares in the 3rd quarter worth approximately $395,000. Finally, Sei Investments Co. raised its stake in TriCo Bancshares by 18.3% during the 2nd quarter. Sei Investments Co. now owns 21,348 shares of the financial services provider’s stock valued at $845,000 after buying an additional 3,303 shares during the last quarter. 59.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TCBK has been the subject of a number of research reports. Janney Montgomery Scott reiterated a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. DA Davidson increased their price objective on shares of TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Stephens boosted their target price on shares of TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Piper Sandler boosted their price target on TriCo Bancshares from $47.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $48.00 target price (up previously from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. Three 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 has a consensus rating of “Moderate Buy” and an average price target of $49.80.

TriCo Bancshares Stock Up 0.7 %

NASDAQ TCBK opened at $43.97 on Friday. The stock has a market cap of $1.46 billion, a PE ratio of 13.41 and a beta of 0.54. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 12 month low of $29.38 and a 12 month high of $48.80. The stock’s 50 day moving average is $43.32 and its 200 day moving average is $40.26.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%. The company had revenue of $97.86 million for the quarter, compared to the consensus estimate of $98.55 million. Research analysts predict that TriCo Bancshares will post 3.31 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued 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 dividend payout ratio (DPR) is 40.24%.

Insider Activity at TriCo Bancshares

In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction that occurred 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 sale, the director now owns 11,228 shares of the company’s stock, valued at $484,039.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction on Friday, August 16th. The shares were 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 $484,039.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael W. Koehnen sold 1,400 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $135,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.64% of the stock is owned by corporate insiders.

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.