Piper Jaffray Companies began coverage on shares of TriCo Bancshares (NASDAQ:TCBK) in a research note released on Friday morning, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $41.00 target price on the financial services provider’s stock.
Several other equities research analysts have also issued reports on TCBK. Zacks Investment Research lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, June 8th. BidaskClub raised Westport Fuel Systems from a hold rating to a buy rating in a research note on Friday. Finally, Stephens started coverage on LiqTech International in a research note on Tuesday, July 9th. They set an overweight rating and a $13.00 price target for the company. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. TriCo Bancshares presently has a consensus rating of Hold and a consensus price target of $41.67.
Shares of TCBK stock opened at $37.54 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 0.80. The business’s 50-day moving average price is $38.09. TriCo Bancshares has a 12-month low of $31.05 and a 12-month high of $41.31. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.83 and a beta of 0.85.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.19 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.76 annualized dividend and a dividend yield of 2.02%. TriCo Bancshares’s dividend payout ratio is currently 28.25%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in shares of TriCo Bancshares by 22.7% in the fourth quarter. Legal & General Group Plc now owns 5,011 shares of the financial services provider’s stock worth $169,000 after buying an additional 927 shares during the period. Crawford Investment Counsel Inc. increased its holdings in shares of TriCo Bancshares by 0.9% in the first quarter. Crawford Investment Counsel Inc. now owns 110,972 shares of the financial services provider’s stock worth $4,360,000 after buying an additional 1,000 shares during the period. Denali Advisors LLC purchased a new position in shares of TriCo Bancshares in the second quarter worth about $38,000. MUFG Securities EMEA plc purchased a new position in shares of TriCo Bancshares in the fourth quarter worth about $88,000. Finally, Kennedy Capital Management Inc. increased its holdings in shares of TriCo Bancshares by 1.2% in the first quarter. Kennedy Capital Management Inc. now owns 218,015 shares of the financial services provider’s stock worth $8,566,000 after buying an additional 2,684 shares during the period. Hedge funds and other institutional investors own 60.71% of the company’s stock.
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. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.
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