Aigen Investment Management LP Acquires New Position in TriCo Bancshares (NASDAQ:TCBK)

Aigen Investment Management LP bought a new position in TriCo Bancshares (NASDAQ:TCBK) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,640 shares of the financial services provider’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in TriCo Bancshares during the fourth quarter worth approximately $1,818,000. Bank of New York Mellon Corp increased its stake in shares of TriCo Bancshares by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 169,294 shares of the financial services provider’s stock worth $7,398,000 after acquiring an additional 2,875 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of TriCo Bancshares in the 4th quarter worth $218,000. Allworth Financial LP raised its holdings in shares of TriCo Bancshares by 21.7% during the 4th quarter. Allworth Financial LP now owns 7,937 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 1,413 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of TriCo Bancshares by 1.1% during the 4th quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider’s stock valued at $2,580,000 after acquiring an additional 652 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TCBK. Keefe, Bruyette & Woods dropped their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a research note on Tuesday, January 28th. DA Davidson cut TriCo Bancshares from a “buy” rating to a “neutral” rating and upped their price objective for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TriCo Bancshares currently has a consensus rating of “Hold” and an average price target of $50.75.

TriCo Bancshares Stock Down 0.2 %

Shares of NASDAQ TCBK opened at $41.75 on Monday. TriCo Bancshares has a 52-week low of $31.73 and a 52-week high of $51.06. The business’s 50 day moving average is $43.48 and its two-hundred day moving average is $44.45. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 12.07 and a beta of 0.55. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. Research analysts predict that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, March 7th. TriCo Bancshares’s payout ratio is 38.15%.

Insider Activity at TriCo Bancshares

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total transaction of $252,297.00. Following the sale, the director now directly owns 6,128 shares in the company, valued at $303,152.16. This represents a 45.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.