Mount Yale Investment Advisors LLC Reduces Position in TriCo Bancshares (NASDAQ:TCBK)

Mount Yale Investment Advisors LLC reduced its holdings in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 72.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,440 shares of the financial services provider's stock after selling 84,000 shares during the period. Mount Yale Investment Advisors LLC owned approximately 0.10% of TriCo Bancshares worth $1,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its holdings in TriCo Bancshares by 839.2% in the third quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider's stock valued at $5,577,000 after acquiring an additional 116,838 shares during the last quarter. Barclays PLC lifted its stake in shares of TriCo Bancshares by 127.0% in the 3rd quarter. Barclays PLC now owns 57,879 shares of the financial services provider's stock valued at $2,468,000 after purchasing an additional 32,379 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of TriCo Bancshares by 6.1% during the 3rd 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 last quarter. Versor Investments LP purchased a new stake in TriCo Bancshares in the 3rd quarter valued at about $699,000. Finally, Cerity Partners LLC acquired a new position in TriCo Bancshares in the third quarter valued at about $678,000. Hedge funds and other institutional investors own 59.11% of the company's stock.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK traded down $0.23 during mid-day trading on Friday, hitting $43.85. 63,265 shares of the company were exchanged, compared to its average volume of 97,360. The stock has a 50 day simple moving average of $45.23 and a 200-day simple moving average of $44.48. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $51.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 12.67 and a beta of 0.58.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its earnings results 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 net margin of 21.63% and a return on equity of 9.63%. On average, sell-side analysts forecast that TriCo Bancshares will post 3.33 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.33 dividend. 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 3.01%. TriCo Bancshares's payout ratio is 38.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stephens dropped their price objective on TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods reduced their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating on the stock in a report on Tuesday. DA Davidson downgraded TriCo Bancshares from a "buy" rating to a "neutral" rating and upped their price target for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Finally, Piper Sandler dropped their price objective on TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Four research 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 presently has a consensus rating of "Hold" and a consensus target price of $50.75.

Insider Activity at TriCo Bancshares

In other news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction dated 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 sale, the director now directly owns 6,128 shares in the company, valued at $303,152.16. The trade was a 45.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.64% of the stock is owned by corporate insiders.

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.