TriCo Bancshares (NASDAQ:TCBK) Rating Reiterated by Janney Montgomery Scott

Janney Montgomery Scott reaffirmed their neutral rating on shares of TriCo Bancshares (NASDAQ:TCBK) in a research note published on Friday, MarketBeat Ratings reports.

Separately, StockNews.com upgraded TriCo Bancshares from a sell rating to a hold rating in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, TriCo Bancshares presently has a consensus rating of Moderate Buy and a consensus price target of $49.80.

TriCo Bancshares Stock Down 1.6 %

Shares of NASDAQ:TCBK opened at $46.84 on Friday. TriCo Bancshares has a fifty-two week low of $29.38 and a fifty-two week high of $48.80. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The firm’s 50-day simple moving average is $39.57 and its 200-day simple moving average is $37.00. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 14.28 and a beta of 0.56.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Friday, June 7th. TriCo Bancshares’s dividend payout ratio is currently 40.24%.

Insiders Place Their Bets

In other news, EVP Craig B. Carney sold 757 shares of TriCo Bancshares stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $38.00, for a total transaction of $28,766.00. Following the completion of the sale, the executive vice president now directly owns 32,325 shares in the company, valued at approximately $1,228,350. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TriCo Bancshares

Hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC boosted its position in TriCo Bancshares by 124.6% during the fourth quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 440 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of TriCo Bancshares by 470.9% in the 4th quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock worth $40,000 after buying an additional 777 shares in the last quarter. SG Americas Securities LLC grew its stake in TriCo Bancshares by 8.2% in the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 287 shares during the last quarter. ProShare Advisors LLC increased its holdings in TriCo Bancshares by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 439 shares in the last quarter. Finally, Bailard Inc. acquired a new position in TriCo Bancshares during the fourth quarter worth about $249,000. 59.11% of the stock is 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. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.