ValuEngine upgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a hold rating to a buy rating in a research report released on Wednesday morning.
TCBK has been the topic of a number of other research reports. BidaskClub upgraded shares of TriCo Bancshares from a sell rating to a hold rating in a research note on Tuesday, March 6th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $43.00 price objective on shares of TriCo Bancshares in a research note on Thursday, December 14th. FIG Partners lowered shares of TriCo Bancshares from an outperform rating to a market perform rating in a research note on Wednesday, December 13th. Finally, Zacks Investment Research upgraded shares of TriCo Bancshares from a hold rating to a buy rating and set a $42.00 price objective on the stock in a research note on Saturday, February 3rd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $41.00.
TriCo Bancshares (NASDAQ:TCBK) traded up $0.60 during trading hours on Wednesday, hitting $39.20. 57,918 shares of the stock were exchanged, compared to its average volume of 74,894. The firm has a market capitalization of $899.88, a price-to-earnings ratio of 18.85, a P/E/G ratio of 1.52 and a beta of 0.85. TriCo Bancshares has a 1 year low of $32.76 and a 1 year high of $43.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.80 and a quick ratio of 0.79.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.68 annualized dividend and a yield of 1.73%. TriCo Bancshares’s dividend payout ratio is presently 39.08%.
A number of hedge funds have recently added to or reduced their stakes in TCBK. Vanguard Group Inc. grew its position in TriCo Bancshares by 4.2% during the second quarter. Vanguard Group Inc. now owns 873,001 shares of the financial services provider’s stock valued at $30,686,000 after buying an additional 35,343 shares during the period. Voya Investment Management LLC grew its position in TriCo Bancshares by 12.0% during the second quarter. Voya Investment Management LLC now owns 11,633 shares of the financial services provider’s stock valued at $409,000 after buying an additional 1,243 shares during the period. State Street Corp grew its position in TriCo Bancshares by 5.8% during the second quarter. State Street Corp now owns 424,641 shares of the financial services provider’s stock valued at $14,928,000 after buying an additional 23,302 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in TriCo Bancshares during the second quarter valued at $211,000. Finally, Nationwide Fund Advisors grew its position in TriCo Bancshares by 11.1% during the third quarter. Nationwide Fund Advisors now owns 165,568 shares of the financial services provider’s stock valued at $6,747,000 after buying an additional 16,522 shares during the period. Institutional investors own 70.68% of the company’s stock.
About TriCo Bancshares
TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.
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