TriCo Bancshares (NASDAQ:TCBK) Sees Large Volume Increase

Shares of TriCo Bancshares (NASDAQ:TCBK – Get Rating) saw unusually-high trading volume on Friday . Approximately 46,412 shares traded hands during trading, a decline of 42% from the previous session’s volume of 79,983 shares.The stock last traded at $44.53 and had previously closed at $45.85.

Analysts Set New Price Targets

A number of brokerages have weighed in on TCBK. Stephens lowered their price target on TriCo Bancshares from $57.00 to $56.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 31st. Raymond James lowered their price target on TriCo Bancshares from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, January 26th. Finally, StockNews.com began coverage on TriCo Bancshares in a research report on Thursday. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.40.

TriCo Bancshares Trading Down 5.3 %

The business has a 50-day simple moving average of $49.32 and a two-hundred day simple moving average of $50.20. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 11.40 and a beta of 0.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.78 and a quick ratio of 0.78.

TriCo Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 17th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, March 16th. TriCo Bancshares’s payout ratio is 31.50%.

Hedge Funds Weigh In On TriCo Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its position in shares of TriCo Bancshares by 9.2% in the second quarter. FMR LLC now owns 2,936,961 shares of the financial services provider’s stock valued at $134,042,000 after purchasing an additional 247,826 shares during the last quarter. Vanguard Group Inc. grew its position in TriCo Bancshares by 3.9% during the first quarter. Vanguard Group Inc. now owns 1,418,186 shares of the financial services provider’s stock worth $56,770,000 after buying an additional 52,760 shares in the last quarter. Dimensional Fund Advisors LP grew its position in TriCo Bancshares by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,281,369 shares of the financial services provider’s stock worth $57,215,000 after buying an additional 8,698 shares in the last quarter. Franklin Resources Inc. grew its position in TriCo Bancshares by 0.3% during the second quarter. Franklin Resources Inc. now owns 1,239,235 shares of the financial services provider’s stock worth $56,559,000 after buying an additional 4,144 shares in the last quarter. Finally, Davis Capital Partners LLC lifted its stake in TriCo Bancshares by 42.5% during the second quarter. Davis Capital Partners LLC now owns 1,000,800 shares of the financial services provider’s stock worth $45,676,000 after purchasing an additional 298,700 shares during the last quarter. Institutional investors and hedge funds own 60.69% of the company’s stock.

About TriCo Bancshares

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TriCo Bancshares is a bank holding company, which engages in the provision of banking services to retail customers and small to medium-sized businesses. It offers personal and business accounts, personal and business loans and credit, and personal and business services. The company was founded on October 13, 1981 and is headquartered in Chico, CA.