Assenagon Asset Management S.A. Has $5.58 Million Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

Assenagon Asset Management S.A. raised its holdings in TriCo Bancshares (NASDAQ:TCBK - Free Report) by 839.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 130,760 shares of the financial services provider's stock after acquiring an additional 116,838 shares during the quarter. Assenagon Asset Management S.A. owned about 0.40% of TriCo Bancshares worth $5,577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TCBK. Dimensional Fund Advisors LP raised its holdings in TriCo Bancshares by 3.5% during 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 period. American Century Companies Inc. boosted its position in shares of TriCo Bancshares by 27.3% during the second quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider's stock worth $15,975,000 after buying an additional 86,689 shares during the period. Heartland Advisors Inc. boosted its position in TriCo Bancshares by 25.0% during the 1st quarter. Heartland Advisors Inc. now owns 250,000 shares of the financial services provider's stock worth $9,195,000 after acquiring an additional 50,000 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of TriCo Bancshares by 8.9% during the 2nd quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider's stock worth $9,333,000 after acquiring an additional 19,224 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of TriCo Bancshares by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider's stock worth $7,305,000 after purchasing an additional 9,723 shares in the last quarter. Institutional investors and hedge funds own 59.11% of the company's stock.

TriCo Bancshares Stock Performance

Shares of TCBK traded up $0.64 during midday trading on Wednesday, reaching $44.07. 18,444 shares of the stock were exchanged, compared to its average volume of 115,856. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The stock's 50 day simple moving average is $43.32 and its 200 day simple moving average is $40.57. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $48.80. The company has a market cap of $1.46 billion, a P/E ratio of 13.24 and a beta of 0.54.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. The firm had revenue of $133.84 million for the quarter, compared to analyst estimates of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.60%. On average, sell-side analysts expect that TriCo Bancshares will post 3.34 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.33 per share. The ex-dividend date was Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a yield of 3.00%. TriCo Bancshares's payout ratio is 40.24%.

Insider Buying and Selling at TriCo Bancshares

In other news, Director Michael W. Koehnen sold 1,400 shares of the business's stock in a transaction on 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 transaction, the director now owns 3,000 shares of the company's stock, valued at approximately $135,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Michael W. Koehnen sold 1,400 shares of the firm's stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total value of $63,280.00. Following the sale, the director now directly owns 3,000 shares in the company, valued at approximately $135,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cory W. Giese sold 3,465 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the sale, the director now directly owns 11,228 shares in the company, valued at approximately $484,039.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.64% of the company's stock.

Analyst Ratings Changes

TCBK has been the topic of several analyst reports. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. DA Davidson upped their target price on shares of TriCo Bancshares from $41.00 to $55.00 and gave the company a "buy" rating in a report on Monday, July 29th. Stephens lowered their price target on TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday. Piper Sandler cut 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. Finally, Janney Montgomery Scott reaffirmed a "neutral" rating on shares of TriCo Bancshares in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, TriCo Bancshares presently has an average rating of "Moderate Buy" and an average price target of $48.60.

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.