TriCo Bancshares (NASDAQ:TCBK) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of TriCo Bancshares (NASDAQ:TCBK – Get Rating) in a report released on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on TCBK. Stephens decreased 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 $56.00 to $53.00 and set an outperform rating for the company in a report on Thursday, January 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $57.40.

TriCo Bancshares Stock Performance

Shares of TCBK stock opened at $43.44 on Thursday. The stock has a market cap of $1.45 billion, a PE ratio of 11.40 and a beta of 0.59. The business has a 50-day simple moving average of $49.32 and a 200-day simple moving average of $50.20. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.35. TriCo Bancshares has a 52-week low of $37.41 and a 52-week high of $58.62.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 17th will be issued a $0.30 dividend. The ex-dividend date is Thursday, March 16th. This represents a $1.20 dividend on an annualized basis and a yield of 2.76%. TriCo Bancshares’s payout ratio is 31.50%.

Hedge Funds Weigh In On TriCo Bancshares

A number of large investors have recently bought and sold shares of TCBK. Quadrant Capital Group LLC raised its holdings in shares of TriCo Bancshares by 473.4% during the second quarter. Quadrant Capital Group LLC now owns 539 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 445 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of TriCo Bancshares by 125.1% during the fourth quarter. Parallel Advisors LLC now owns 961 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 534 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of TriCo Bancshares during the third quarter valued at approximately $50,000. FourThought Financial LLC raised its holdings in shares of TriCo Bancshares by 28.4% during the third quarter. FourThought Financial LLC now owns 1,770 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 392 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of TriCo Bancshares by 21.7% during the second quarter. Captrust Financial Advisors now owns 1,853 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 331 shares during the last quarter. Institutional investors and hedge funds own 60.69% of the company’s stock.

About TriCo Bancshares

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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.