Piper Jaffray Companies began coverage on shares of TriCo Bancshares (NASDAQ:TCBK) in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $41.00 target price on the financial services provider’s stock.
A number of other analysts have also recently commented on TCBK. Stephens assumed coverage on LiqTech International in a research report on Tuesday, July 9th. They issued an overweight rating and a $13.00 price target on the stock. BidaskClub raised Westport Fuel Systems from a hold rating to a buy rating in a research report on Friday. Finally, Zacks Investment Research cut Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, June 8th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has a consensus rating of Hold and an average price target of $41.67.
TCBK stock opened at $37.54 on Friday. TriCo Bancshares has a fifty-two week low of $31.05 and a fifty-two week high of $41.31. The stock’s 50 day moving average price is $38.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $1.17 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.83 and a beta of 0.85.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.19 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.76 dividend on an annualized basis 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 modified their holdings of the company. FMR LLC boosted its position in shares of TriCo Bancshares by 9.9% in the 1st quarter. FMR LLC now owns 2,461,686 shares of the financial services provider’s stock worth $96,720,000 after purchasing an additional 221,356 shares in the last quarter. BlackRock Inc. boosted its position in shares of TriCo Bancshares by 3.5% in the 4th quarter. BlackRock Inc. now owns 1,887,967 shares of the financial services provider’s stock worth $63,794,000 after purchasing an additional 64,370 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of TriCo Bancshares by 7.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,372,512 shares of the financial services provider’s stock worth $46,377,000 after purchasing an additional 92,775 shares in the last quarter. Northern Trust Corp boosted its position in shares of TriCo Bancshares by 1.3% in the 4th quarter. Northern Trust Corp now owns 627,085 shares of the financial services provider’s stock worth $21,189,000 after purchasing an additional 7,887 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of TriCo Bancshares by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 313,247 shares of the financial services provider’s stock worth $10,584,000 after purchasing an additional 23,413 shares in the last quarter. 60.71% of the stock is currently owned by hedge funds and other institutional investors.
TriCo Bancshares Company Profile
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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