TriCo Bancshares (TCBK) Receives “Hold” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their hold rating on shares of TriCo Bancshares (NASDAQ:TCBK) in a report issued on Friday. Keefe, Bruyette & Woods currently has a $45.00 target price on the financial services provider’s stock.

Several other research firms have also commented on TCBK. Zacks Investment Research lowered shares of TriCo Bancshares from a buy rating to a hold rating in a report on Friday, November 3rd. FIG Partners lowered shares of TriCo Bancshares from an outperform rating to a market perform rating in a research note on Wednesday, December 13th. Finally, BidaskClub lowered shares of TriCo Bancshares from a hold rating to a sell rating in a research note on Friday, December 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $42.67.

TriCo Bancshares (NASDAQ TCBK) traded down $0.75 during midday trading on Friday, reaching $39.47. 54,260 shares of the company traded hands, compared to its average volume of 106,385. TriCo Bancshares has a 52-week low of $32.66 and a 52-week high of $43.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $922.71, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 1.85 and a beta of 0.90.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). TriCo Bancshares had a net margin of 21.87% and a return on equity of 10.17%. The business had revenue of $57.01 million during the quarter, compared to analysts’ expectations of $56.99 million. sell-side analysts anticipate that TriCo Bancshares will post 2.18 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.72%. TriCo Bancshares’s dividend payout ratio is currently 31.63%.

Several institutional investors and hedge funds have recently bought and sold shares of TCBK. GSA Capital Partners LLP increased its stake in shares of TriCo Bancshares by 46.4% in the third quarter. GSA Capital Partners LLP now owns 14,669 shares of the financial services provider’s stock worth $598,000 after buying an additional 4,651 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of TriCo Bancshares by 10.5% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,832 shares of the financial services provider’s stock worth $645,000 after buying an additional 1,501 shares during the last quarter. OxFORD Asset Management LLP increased its stake in shares of TriCo Bancshares by 51.1% in the third quarter. OxFORD Asset Management LLP now owns 40,631 shares of the financial services provider’s stock worth $1,654,000 after buying an additional 13,745 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of TriCo Bancshares by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,114,530 shares of the financial services provider’s stock worth $45,417,000 after buying an additional 37,461 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of TriCo Bancshares by 13.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 96,682 shares of the financial services provider’s stock worth $3,940,000 after buying an additional 11,321 shares during the last quarter. Institutional investors own 68.96% of the company’s stock.

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About TriCo Bancshares

TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.

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