TriCo Bancshares (NASDAQ:TCBK – Get Rating) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $55.17.
A number of equities analysts have recently commented on TCBK shares. StockNews.com assumed coverage on shares of TriCo Bancshares in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Stephens cut their price objective on TriCo Bancshares from $57.00 to $56.00 and set an “overweight” rating for the company in a report on Tuesday, January 31st. Raymond James decreased their price objective on TriCo Bancshares from $53.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Keefe, Bruyette & Woods cut their price objective on shares of TriCo Bancshares from $61.00 to $52.00 and set a “market perform” rating for the company in a research note on Thursday.
TriCo Bancshares Price Performance
TCBK opened at $40.98 on Friday. The firm has a market cap of $1.36 billion, a P/E ratio of 10.76 and a beta of 0.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.78 and a current ratio of 0.78. TriCo Bancshares has a fifty-two week low of $37.41 and a fifty-two week high of $58.62. The firm has a 50-day moving average of $47.20 and a 200 day moving average of $49.69.
TriCo Bancshares Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 17th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Thursday, March 16th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 31.50%.
Hedge Funds Weigh In On TriCo Bancshares
Several hedge funds and other institutional investors have recently bought and sold shares of TCBK. Teacher Retirement System of Texas boosted its position in TriCo Bancshares by 4.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 4,881 shares of the financial services provider’s stock valued at $218,000 after buying an additional 187 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of TriCo Bancshares by 1.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 18,479 shares of the financial services provider’s stock worth $825,000 after acquiring an additional 224 shares during the period. Arizona State Retirement System grew its position in TriCo Bancshares by 3.0% in the fourth quarter. Arizona State Retirement System now owns 8,468 shares of the financial services provider’s stock worth $432,000 after buying an additional 243 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of TriCo Bancshares by 2.0% in the 4th quarter. Legal & General Group Plc now owns 12,698 shares of the financial services provider’s stock valued at $647,000 after purchasing an additional 247 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of TriCo Bancshares by 5.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,191 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 255 shares in the last quarter. 60.69% of the stock is owned by institutional investors and hedge funds.
TriCo Bancshares Company Profile
TriCo Bancshares is a bank holding company, which engages in the provision of banking services to retail customers and small to medium-sized businesses. It offers personal and business accounts, personal and business loans and credit, and personal and business services. The company was founded on October 13, 1981 and is headquartered in Chico, CA.
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