TriCo Bancshares (NASDAQ:TCBK) Earns Neutral Rating from Janney Montgomery Scott

Janney Montgomery Scott reiterated their neutral rating on shares of TriCo Bancshares (NASDAQ:TCBK) in a report issued on Friday morning, MarketBeat Ratings reports.

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

TriCo Bancshares Stock Down 1.6 %

Shares of NASDAQ:TCBK opened at $46.84 on Friday. The business’s 50 day moving average is $39.57 and its 200 day moving average is $37.00. The stock has a market cap of $1.55 billion, a P/E ratio of 14.28 and a beta of 0.56. TriCo Bancshares has a 52-week low of $29.38 and a 52-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.

TriCo Bancshares Dividend Announcement

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

Insider Transactions at TriCo Bancshares

In related news, EVP Craig B. Carney sold 757 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $38.00, for a total transaction of $28,766.00. Following the sale, the executive vice president now owns 32,325 shares of the company’s stock, valued at $1,228,350. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.64% of the company’s stock.

Institutional Trading of TriCo Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its stake in TriCo Bancshares by 7.5% in the second quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock valued at $553,000 after buying an additional 973 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of TriCo Bancshares by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 758 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of TriCo Bancshares by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider’s stock valued at $7,305,000 after purchasing an additional 9,723 shares during the last quarter. Sweeney & Michel LLC raised its position in shares of TriCo Bancshares by 0.8% in the 2nd quarter. Sweeney & Michel LLC now owns 132,678 shares of the financial services provider’s stock valued at $5,173,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in TriCo Bancshares by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,895 shares of the financial services provider’s stock worth $1,063,000 after purchasing an additional 1,119 shares in the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

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.