TriCo Bancshares (NASDAQ:TCBK) Given “Maintains” Rating at Raymond James

Raymond James restated their maintains rating on shares of TriCo Bancshares (NASDAQ:TCBKGet Rating) in a research note released on Thursday morning, Benzinga reports.

TCBK has been the subject of several other research reports. StockNews.com assumed coverage on shares of TriCo Bancshares in a report on Thursday, March 31st. They set a hold rating for the company. Janney Montgomery Scott raised shares of TriCo Bancshares from a neutral rating to a buy rating and set a $49.00 target price for the company in a report on Tuesday, May 3rd. Piper Sandler raised their target price on shares of TriCo Bancshares to $56.00 in a report on Monday, July 4th. Finally, Stephens raised shares of TriCo Bancshares from an equal weight rating to an overweight rating and raised their target price for the stock from $46.00 to $48.00 in a report on Wednesday, May 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, TriCo Bancshares has an average rating of Moderate Buy and a consensus price target of $49.60.

TriCo Bancshares Trading Up 0.7 %

NASDAQ TCBK opened at $47.80 on Thursday. The company has a fifty day simple moving average of $45.72 and a two-hundred day simple moving average of $43.24. The stock has a market cap of $1.62 billion, a P/E ratio of 13.74 and a beta of 0.50. TriCo Bancshares has a 12-month low of $37.41 and a 12-month high of $48.00. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.12.

TriCo Bancshares (NASDAQ:TCBKGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.06). TriCo Bancshares had a return on equity of 10.62% and a net margin of 30.61%. On average, analysts forecast that TriCo Bancshares will post 3.89 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, June 9th. This represents a $1.00 annualized dividend and a yield of 2.09%. TriCo Bancshares’s dividend payout ratio is presently 28.74%.

Insider Activity at TriCo Bancshares

In other news, Director Cory W. Giese sold 2,500 shares of TriCo Bancshares stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $42.00, for a total value of $105,000.00. Following the sale, the director now owns 9,503 shares in the company, valued at $399,126. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Cory W. Giese sold 2,500 shares of TriCo Bancshares stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $42.00, for a total value of $105,000.00. Following the sale, the director now owns 9,503 shares in the company, valued at $399,126. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anthony L. Leggio bought 1,588 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The stock was bought at an average price of $39.69 per share, for a total transaction of $63,027.72. Following the transaction, the director now owns 108,597 shares of the company’s stock, valued at $4,310,214.93. The disclosure for this purchase can be found here. 4.10% of the stock is owned by company insiders.

Institutional Trading of TriCo Bancshares

Several institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new position in shares of TriCo Bancshares in the fourth quarter worth about $26,000. Amalgamated Bank purchased a new position in shares of TriCo Bancshares in the first quarter worth about $133,000. FinTrust Capital Advisors LLC lifted its stake in shares of TriCo Bancshares by 13.5% in the second quarter. FinTrust Capital Advisors LLC now owns 3,280 shares of the financial services provider’s stock worth $153,000 after buying an additional 390 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of TriCo Bancshares by 18.5% in the fourth quarter. Teacher Retirement System of Texas now owns 5,699 shares of the financial services provider’s stock worth $245,000 after buying an additional 891 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of TriCo Bancshares in the fourth quarter worth about $259,000. Institutional investors and hedge funds own 57.69% of the company’s stock.

TriCo Bancshares Company Profile

(Get Rating)

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; commercial loans, including agricultural loans; and real estate construction loans.

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