Assenagon Asset Management S.A. Acquires Shares of 58,224 TriCo Bancshares (NASDAQ:TCBK)

Assenagon Asset Management S.A. acquired a new stake in shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 58,224 shares of the financial services provider's stock, valued at approximately $2,141,000. Assenagon Asset Management S.A. owned approximately 0.18% of TriCo Bancshares as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TCBK. Bank of New York Mellon Corp raised its stake in TriCo Bancshares by 1.4% during the third quarter. Bank of New York Mellon Corp now owns 188,351 shares of the financial services provider's stock valued at $6,033,000 after buying an additional 2,675 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TriCo Bancshares by 39.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,215 shares of the financial services provider's stock valued at $231,000 after buying an additional 2,024 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in TriCo Bancshares during the third quarter valued at approximately $281,000. Fermata Advisors LLC acquired a new stake in TriCo Bancshares during the third quarter valued at approximately $329,000. Finally, Quantbot Technologies LP raised its stake in TriCo Bancshares by 49.6% during the third quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider's stock valued at $158,000 after buying an additional 1,631 shares in the last quarter. Institutional investors and hedge funds own 59.11% of the company's stock.

TriCo Bancshares Stock Performance

TCBK traded up $0.20 during trading hours on Tuesday, hitting $38.71. The company's stock had a trading volume of 61,168 shares, compared to its average volume of 114,867. TriCo Bancshares has a fifty-two week low of $29.38 and a fifty-two week high of $45.84. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.28 billion, a PE ratio of 11.80 and a beta of 0.54. The company has a 50-day simple moving average of $35.32 and a 200 day simple moving average of $36.82.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. TriCo Bancshares had a return on equity of 9.75% and a net margin of 21.25%. The firm had revenue of $131.19 million for the quarter, compared to analysts' expectations of $99.50 million. As a group, sell-side analysts expect that TriCo Bancshares will post 3.2 EPS for the current year.

TriCo Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $0.33 dividend. This is a boost from TriCo Bancshares's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, March 7th. TriCo Bancshares's dividend payout ratio (DPR) is currently 40.24%.

Wall Street Analysts Forecast Growth

TCBK has been the topic of a number of research reports. DA Davidson dropped their price target on TriCo Bancshares from $49.00 to $45.00 and set a "buy" rating on the stock in a research report on Friday, January 26th. StockNews.com upgraded TriCo Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods dropped their price target on TriCo Bancshares from $44.00 to $42.00 and set a "market perform" rating on the stock in a research report on Friday, January 26th. Finally, Raymond James increased their price target on TriCo Bancshares from $36.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, TriCo Bancshares currently has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Insider Buying and Selling at TriCo Bancshares

In other TriCo Bancshares news, EVP Craig B. Carney sold 757 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $38.00, for a total transaction of $28,766.00. Following the completion of the transaction, the executive vice president now directly owns 32,325 shares of the company's stock, valued at approximately $1,228,350. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.64% of the stock is currently owned by corporate insiders.

TriCo Bancshares Company 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.

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