Assenagon Asset Management S.A. Purchases 30,227 Shares of TriCo Bancshares (NASDAQ:TCBK)

Assenagon Asset Management S.A. raised its stake in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 23.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,987 shares of the financial services provider's stock after acquiring an additional 30,227 shares during the quarter. Assenagon Asset Management S.A. owned about 0.49% of TriCo Bancshares worth $7,035,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of TriCo Bancshares by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider's stock valued at $59,471,000 after buying an additional 50,358 shares during the period. Renaissance Technologies LLC grew its stake 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 buying an additional 19,224 shares in the last quarter. Sei Investments Co. increased its holdings in TriCo Bancshares by 18.3% in 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 period. Creative Planning boosted its position in shares of TriCo Bancshares by 62.6% during the 2nd quarter. Creative Planning now owns 21,447 shares of the financial services provider's stock worth $849,000 after acquiring an additional 8,260 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in TriCo Bancshares in the third quarter valued at approximately $395,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TCBK has been the subject of several recent analyst reports. Piper Sandler cut their target price on TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. DA Davidson cut shares of 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 report on Tuesday, November 12th. Finally, 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, TriCo Bancshares has an average rating of "Hold" and a consensus target price of $48.20.

TriCo Bancshares Trading Up 0.6 %

NASDAQ:TCBK traded up $0.25 during mid-day trading on Monday, hitting $42.95. 86,976 shares of the company's stock were exchanged, compared to its average volume of 108,977. 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 has a fifty-two week low of $31.73 and a fifty-two week high of $51.06. The company has a 50 day simple moving average of $45.93 and a 200-day simple moving average of $44.27. The firm has a market capitalization of $1.42 billion, a P/E ratio of 12.78 and a beta of 0.58.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The business had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million. As a group, research analysts expect that TriCo Bancshares will post 3.38 earnings per share for the current 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 given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, December 6th. TriCo Bancshares's dividend payout ratio (DPR) is presently 39.29%.

Insider Activity

In related news, Director Cory W. Giese sold 5,100 shares of the 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 transaction, the director now directly owns 6,128 shares of the company's stock, valued at $303,152.16. This 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 can be accessed through the SEC website. 4.64% of the stock is owned by company 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.