Pictet Asset Management Holding SA Acquires Shares of 4,645 TriCo Bancshares (NASDAQ:TCBK)

Pictet Asset Management Holding SA purchased a new stake in TriCo Bancshares (NASDAQ:TCBK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,645 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of TriCo Bancshares by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock valued at $33,344,000 after purchasing an additional 5,155 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of TriCo Bancshares by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock worth $19,041,000 after purchasing an additional 25,817 shares during the period. Bank of New York Mellon Corp lifted its holdings in TriCo Bancshares by 1.7% during 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 buying an additional 2,875 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of TriCo Bancshares by 23.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock worth $7,035,000 after acquiring an additional 30,227 shares during the period. Finally, Rhumbline Advisers increased its position in 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 purchasing an additional 652 shares during the period. 59.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $50.75.

TriCo Bancshares Stock Performance

Shares of TriCo Bancshares stock opened at $36.09 on Friday. The business has a 50-day simple moving average of $41.36 and a 200 day simple moving average of $43.61. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. 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 firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.43 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, beating 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%. On average, research analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Friday, March 7th. TriCo Bancshares’s dividend payout ratio is currently 38.15%.

About TriCo Bancshares

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.