Assenagon Asset Management S.A. Grows Stock Position in TriCo Bancshares (NASDAQ:TCBK)

Assenagon Asset Management S.A. boosted its stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) by 839.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,760 shares of the financial services provider's stock after buying an additional 116,838 shares during the quarter. Assenagon Asset Management S.A. owned 0.40% of TriCo Bancshares worth $5,577,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of 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 acquiring an additional 50,358 shares during the last quarter. 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. grew its stake in shares of TriCo Bancshares by 25.0% in the first quarter. Heartland Advisors Inc. now owns 250,000 shares of the financial services provider's stock valued at $9,195,000 after buying an additional 50,000 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of TriCo Bancshares by 8.9% in the 2nd quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider's stock valued at $9,333,000 after buying an additional 19,224 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in TriCo Bancshares by 5.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider's stock worth $7,305,000 after acquiring an additional 9,723 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on TCBK shares. Piper Sandler dropped their target price on TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday. DA Davidson upped their target price on shares of TriCo Bancshares from $41.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $48.00 price target (up previously from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. Janney Montgomery Scott reaffirmed a "neutral" rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Finally, Stephens decreased their target price on TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.60.

TriCo Bancshares Stock Up 0.5 %

Shares of TriCo Bancshares stock traded up $0.21 during trading on Wednesday, hitting $43.64. 76,186 shares of the stock were exchanged, compared to its average volume of 116,131. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85. The firm's 50-day moving average price is $43.32 and its 200 day moving average price is $40.57. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 13.30 and a beta of 0.54. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $48.80.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly 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. TriCo Bancshares had a return on equity of 9.60% and a net margin of 21.12%. The company had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million. As a group, analysts forecast that TriCo Bancshares will post 3.34 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a yield of 3.02%. TriCo Bancshares's payout ratio is currently 40.24%.

Insider Transactions at TriCo Bancshares

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

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.