ValuEngine upgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a hold rating to a buy rating in a research note issued to investors on Wednesday.
TCBK has been the subject of a number of other research reports. BidaskClub cut shares of TriCo Bancshares from a hold rating to a sell rating in a research report on Friday, December 15th. Zacks Investment Research raised shares of TriCo Bancshares from a hold rating to a buy rating and set a $42.00 price target for the company in a report on Saturday, February 3rd. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $44.00 price target on shares of TriCo Bancshares in a report on Wednesday, January 31st. Finally, FIG Partners cut shares of TriCo Bancshares from an outperform rating to a market perform rating in a report on Wednesday, December 13th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. TriCo Bancshares presently has an average rating of Hold and an average price target of $41.00.
TriCo Bancshares (NASDAQ:TCBK) traded up $0.60 during trading hours on Wednesday, reaching $39.20. 57,918 shares of the company were exchanged, compared to its average volume of 74,894. TriCo Bancshares has a 12 month low of $32.76 and a 12 month 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 stock has a market capitalization of $899.88, a PE ratio of 18.85, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be issued a $0.17 dividend. The ex-dividend date is Thursday, March 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.73%. TriCo Bancshares’s dividend payout ratio is currently 39.08%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. purchased a new position in shares of TriCo Bancshares in the second quarter worth $211,000. Teacher Retirement System of Texas purchased a new position in shares of TriCo Bancshares in the fourth quarter worth $270,000. MetLife Investment Advisors LLC purchased a new position in shares of TriCo Bancshares in the fourth quarter worth $371,000. Citadel Advisors LLC raised its holdings in shares of TriCo Bancshares by 96.3% in the fourth quarter. Citadel Advisors LLC now owns 10,288 shares of the financial services provider’s stock worth $390,000 after buying an additional 5,048 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of TriCo Bancshares by 12.0% in the second quarter. Voya Investment Management LLC now owns 11,633 shares of the financial services provider’s stock worth $409,000 after buying an additional 1,243 shares during the last quarter. 70.68% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: This piece was published by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://sportsperspectives.com/2018/03/11/trico-bancshares-tcbk-lifted-to-buy-at-valuengine.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for TriCo Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriCo Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.