23,760 Shares in TriCo Bancshares $TCBK Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. acquired a new stake in TriCo Bancshares (NASDAQ:TCBK) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 23,760 shares of the financial services provider’s stock, valued at approximately $1,126,000. Assenagon Asset Management S.A. owned approximately 0.07% of TriCo Bancshares as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Larson Financial Group LLC grew its holdings in shares of TriCo Bancshares by 337.5% during the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 459 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in TriCo Bancshares in the third quarter valued at approximately $58,000. PNC Financial Services Group Inc. bought a new stake in shares of TriCo Bancshares during the third quarter worth $76,000. Federated Hermes Inc. grew its stake in shares of TriCo Bancshares by 17.7% during the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock worth $78,000 after buying an additional 290 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of TriCo Bancshares by 74.0% during the third quarter. CWM LLC now owns 2,001 shares of the financial services provider’s stock worth $89,000 after buying an additional 851 shares in the last quarter. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Price Performance

Shares of TCBK opened at $47.54 on Wednesday. TriCo Bancshares has a 1 year low of $35.20 and a 1 year high of $53.18. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 12.81 and a beta of 0.63. The business has a 50-day moving average of $49.01 and a 200-day moving average of $47.19.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.01 by $0.02. TriCo Bancshares had a return on equity of 9.43% and a net margin of 22.56%.The business had revenue of $109.40 million for the quarter, compared to analysts’ expectations of $108.19 million. As a group, equities research analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were given a $0.36 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.0%. TriCo Bancshares’s payout ratio is 38.81%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TCBK shares. Stephens raised their price objective on TriCo Bancshares from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Weiss Ratings raised TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Keefe, Bruyette & Woods increased their target price on TriCo Bancshares from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, January 26th. Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Finally, Piper Sandler boosted their price target on TriCo Bancshares from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

TriCo Bancshares Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.