Aigen Investment Management LP Invests $203,000 in TriCo Bancshares (NASDAQ:TCBK)

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

Other hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of TriCo Bancshares in the 3rd quarter valued at about $28,000. Point72 DIFC Ltd purchased a new position in TriCo Bancshares during the third quarter valued at approximately $114,000. Quantbot Technologies LP acquired a new position in TriCo Bancshares in the third quarter valued at approximately $129,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in TriCo Bancshares in the 3rd quarter worth approximately $210,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of TriCo Bancshares during the 4th quarter worth approximately $212,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Trading Down 0.2 %

Shares of TCBK stock opened at $41.75 on Monday. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $51.06. The company 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 debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50 day simple moving average of $43.48 and a 200-day simple moving average of $44.45.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. On average, equities research analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, March 7th. This represents a $1.32 annualized dividend and a dividend yield of 3.16%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 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 stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the completion of the transaction, the director now owns 6,128 shares of the company’s stock, valued at $303,152.16. This represents a 45.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on TCBK. Keefe, Bruyette & Woods decreased their target price 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 downgraded shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $50.00 to $53.00 in a research report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, TriCo Bancshares currently has a consensus rating of “Hold” and an average target price of $50.75.

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.