TriCo Bancshares (NASDAQ:TCBK) Earns Neutral Rating from Analysts at Piper Jaffray Companies

Piper Jaffray Companies began coverage on shares of TriCo Bancshares (NASDAQ:TCBK) in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $41.00 target price on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, June 8th. BidaskClub upgraded Westport Fuel Systems from a hold rating to a buy rating in a research note on Friday. Finally, Stephens initiated coverage on LiqTech International in a research note on Tuesday, July 9th. They issued an overweight rating and a $13.00 price target for the company. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has a consensus rating of Hold and an average target price of $41.67.

NASDAQ TCBK opened at $38.39 on Friday. The business’s fifty day simple moving average is $38.12. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.12. TriCo Bancshares has a fifty-two week low of $31.05 and a fifty-two week high of $41.31. The company has a market capitalization of $1.17 billion, a PE ratio of 14.27, a PEG ratio of 1.83 and a beta of 0.85.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. TriCo Bancshares had a return on equity of 10.37% and a net margin of 25.94%. The firm had revenue of $75.73 million during the quarter, compared to analysts’ expectations of $77.05 million. On average, equities research analysts expect that TriCo Bancshares will post 3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Thursday, June 13th. TriCo Bancshares’s payout ratio is 28.25%.

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its stake in shares of TriCo Bancshares by 8.4% in the 4th quarter. FMR LLC now owns 2,240,330 shares of the financial services provider’s stock valued at $75,701,000 after acquiring an additional 173,502 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of TriCo Bancshares in the 4th quarter valued at $88,000. Northern Trust Corp lifted its stake in shares of TriCo Bancshares by 1.3% in the 4th quarter. Northern Trust Corp now owns 627,085 shares of the financial services provider’s stock valued at $21,189,000 after acquiring an additional 7,887 shares during the last quarter. Millennium Management LLC acquired a new stake in TriCo Bancshares in the fourth quarter valued at $1,522,000. Finally, RMB Capital Management LLC increased its holdings in TriCo Bancshares by 15.6% in the fourth quarter. RMB Capital Management LLC now owns 88,871 shares of the financial services provider’s stock valued at $3,003,000 after purchasing an additional 11,988 shares during the period. Institutional investors own 60.73% 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. It accepts demand, savings, and money market accounts, as well as 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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