Assenagon Asset Management S.A. Purchases Shares of 47,700 TriCo Bancshares (TCBK)

Assenagon Asset Management S.A. purchased a new position in shares of TriCo Bancshares (NASDAQ:TCBK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 47,700 shares of the financial services provider’s stock, valued at approximately $1,842,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. grew its holdings in TriCo Bancshares by 7.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 114,866 shares of the financial services provider’s stock worth $4,302,000 after acquiring an additional 7,722 shares in the last quarter. Alps Advisors Inc. acquired a new position in TriCo Bancshares during the 2nd quarter worth approximately $501,000. Wells Fargo & Company MN grew its holdings in TriCo Bancshares by 2.8% during the 1st quarter. Wells Fargo & Company MN now owns 55,243 shares of the financial services provider’s stock worth $2,055,000 after acquiring an additional 1,505 shares in the last quarter. SG Americas Securities LLC acquired a new position in TriCo Bancshares during the 2nd quarter worth approximately $110,000. Finally, California Public Employees Retirement System grew its holdings in TriCo Bancshares by 15.5% during the 2nd quarter. California Public Employees Retirement System now owns 45,653 shares of the financial services provider’s stock worth $1,710,000 after acquiring an additional 6,112 shares in the last quarter. Institutional investors own 53.92% of the company’s stock.

Shares of TriCo Bancshares stock opened at $36.94 on Friday. TriCo Bancshares has a 12-month low of $33.35 and a 12-month high of $43.79. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1.12 billion, a PE ratio of 17.76, a P/E/G ratio of 2.04 and a beta of 0.80.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Monday, October 29th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. TriCo Bancshares had a net margin of 18.77% and a return on equity of 11.22%. The business had revenue of $72.68 million during the quarter, compared to analysts’ expectations of $72.54 million. As a group, research analysts expect that TriCo Bancshares will post 2.57 earnings per share for the current year.

TCBK has been the subject of several analyst reports. BidaskClub cut shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, August 29th. Zacks Investment Research upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. Finally, ValuEngine cut shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. TriCo Bancshares presently has a consensus rating of “Buy” and an average target price of $43.60.

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TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to retail customers and small to medium-sized businesses. It accepts demand, savings, and money market accounts, as well as time deposits; and provides residential and commercial real estate mortgage, consumer, commercial, agricultural, and real estate construction loans.

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Institutional Ownership by Quarter for TriCo Bancshares (NASDAQ:TCBK)

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