TriCo Bancshares (NASDAQ:TCBK) Coverage Initiated by Analysts at StockNews.com

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

Other research analysts have also recently issued reports about the company. Stephens decreased their price target on TriCo Bancshares from $57.00 to $56.00 and set an overweight rating on the stock in a research note on Tuesday, January 31st. Raymond James reduced their price objective on TriCo Bancshares from $56.00 to $53.00 and set an outperform rating on the stock in a research note on Thursday, January 26th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, TriCo Bancshares has a consensus rating of Moderate Buy and an average price target of $57.40.

TriCo Bancshares Stock Down 5.3 %

NASDAQ:TCBK opened at $43.44 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average is $49.32 and its two-hundred day moving average is $50.20. TriCo Bancshares has a 52 week low of $37.41 and a 52 week high of $58.62. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 11.40 and a beta of 0.59.

TriCo Bancshares Dividend Announcement

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

Institutional Trading of TriCo Bancshares

Several hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in TriCo Bancshares by 9.2% in the second quarter. FMR LLC now owns 2,936,961 shares of the financial services provider’s stock valued at $134,042,000 after buying an additional 247,826 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new stake in TriCo Bancshares in the third quarter valued at $5,823,000. John W. Rosenthal Capital Management Inc. acquired a new stake in TriCo Bancshares in the third quarter valued at $837,000. Raymond James & Associates raised its stake in TriCo Bancshares by 4.7% in the third quarter. Raymond James & Associates now owns 17,358 shares of the financial services provider’s stock valued at $775,000 after buying an additional 775 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in TriCo Bancshares in the third quarter valued at $368,000. 60.69% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Company Profile

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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.