Empowered Funds LLC Has $2.07 Million Stock Position in TriCo Bancshares (NASDAQ:TCBK)

Empowered Funds LLC cut its holdings in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,253 shares of the financial services provider's stock after selling 5,581 shares during the quarter. Empowered Funds LLC owned approximately 0.14% of TriCo Bancshares worth $2,065,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new stake in shares of TriCo Bancshares in the fourth quarter valued at $212,000. SG Americas Securities LLC increased its position 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 worth $515,000 after purchasing an additional 2,512 shares during the period. Assenagon Asset Management S.A. increased its position 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 worth $7,035,000 after purchasing an additional 30,227 shares during the period. JPMorgan Chase & Co. increased its position 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 worth $19,041,000 after purchasing an additional 25,817 shares during the period. Finally, Geode Capital Management LLC increased its position 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 worth $33,344,000 after purchasing an additional 5,155 shares during the period. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TCBK has been the subject of a number of research reports. Stephens lowered their price objective on TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Tuesday, October 29th. Piper Sandler lowered their price objective on TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. DA Davidson lowered TriCo Bancshares from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $50.00 to $53.00 in a research report on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods reduced their target price on TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating on the stock in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $50.75.

TriCo Bancshares Trading Down 0.0 %

TCBK traded down $0.00 during midday trading on Tuesday, reaching $44.92. 21,843 shares of the company were exchanged, compared to its average volume of 90,687. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. The stock has a market capitalization of $1.48 billion, a P/E ratio of 12.98 and a beta of 0.57. The stock's 50-day simple moving average is $44.22 and its 200 day simple moving average is $44.33.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. As a group, analysts forecast that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Friday, December 6th. TriCo Bancshares's dividend payout ratio (DPR) is presently 38.15%.

Insider Activity

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the sale, the director now owns 6,128 shares in the company, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.64% of the stock is currently owned by company 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.