TriCo Bancshares (NASDAQ:TCBK) Stake Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 446,455 shares of the financial services provider's stock after purchasing an additional 25,817 shares during the quarter. JPMorgan Chase & Co. owned about 1.35% of TriCo Bancshares worth $19,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in TriCo Bancshares by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider's stock worth $59,471,000 after buying an additional 50,358 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of TriCo Bancshares by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider's stock worth $33,344,000 after acquiring an additional 5,155 shares during the period. American Century Companies Inc. boosted 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 worth $15,975,000 after acquiring an additional 86,689 shares during the last quarter. Curi RMB Capital LLC grew its holdings in TriCo Bancshares by 1.6% in the third quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider's stock valued at $14,792,000 after purchasing an additional 5,314 shares during the period. Finally, Renaissance Technologies LLC increased its position in TriCo Bancshares by 8.9% during the second quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider's stock worth $9,333,000 after purchasing an additional 19,224 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company's stock.

Insider Activity

In other news, Director Cory W. Giese sold 5,100 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.64% of the company's stock.

TriCo Bancshares Stock Down 3.2 %

Shares of NASDAQ:TCBK traded down $1.33 during midday trading on Friday, hitting $40.89. 109,839 shares of the company's stock traded hands, compared to its average volume of 100,007. The firm's fifty day moving average price is $46.32 and its two-hundred day moving average price is $44.02. 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 twelve month low of $31.73 and a twelve month high of $51.06. The company has a market cap of $1.35 billion, a PE ratio of 12.17 and a beta of 0.58.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. The company had revenue of $133.84 million for the quarter, compared to analysts' expectations of $98.65 million. On average, equities research analysts anticipate that TriCo Bancshares will post 3.38 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.23%. The ex-dividend date was Friday, December 6th. TriCo Bancshares's dividend payout ratio (DPR) is 39.29%.

Analyst Ratings Changes

A number of equities analysts have weighed in on TCBK shares. Stephens decreased their price target on shares of TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. DA Davidson lowered TriCo Bancshares from a "buy" rating to a "neutral" rating and increased their target price for the stock from $50.00 to $53.00 in a research report on Tuesday, November 12th. Finally, Piper Sandler lowered their price target 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, TriCo Bancshares has a consensus rating of "Hold" and an average 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.