Zacks Investment Research lowered shares of TriCo Bancshares (NASDAQ:TCBK) from a buy rating to a hold rating in a research note released on Friday morning.

According to Zacks, “TriCo Bancshares is a bank holding company for Tri Counties Bank. The Bank conducts a commercial banking business including accepting demand, savings and time deposits and making commercial, real estate, and consumer loans. “

TCBK has been the subject of several other research reports. BidaskClub upgraded TriCo Bancshares from a strong sell rating to a sell rating in a research report on Wednesday, August 9th. ValuEngine upgraded TriCo Bancshares from a hold rating to a buy rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. TriCo Bancshares currently has an average rating of Hold and a consensus target price of $39.00.

TriCo Bancshares (TCBK) opened at 36.92 on Friday. The company has a market cap of $846.39 million, a PE ratio of 17.01 and a beta of 0.90. The stock has a 50 day moving average price of $35.88 and a 200 day moving average price of $35.45. TriCo Bancshares has a 1-year low of $25.43 and a 1-year high of $38.58.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.68 annualized dividend and a yield of 1.84%. TriCo Bancshares’s payout ratio is 31.34%.

In other TriCo Bancshares news, EVP Craig B. Carney sold 5,000 shares of TriCo Bancshares stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $36.00, for a total value of $180,000.00. Following the completion of the transaction, the executive vice president now owns 18,294 shares in the company, valued at approximately $658,584. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 9.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Alps Advisors Inc. raised its position in TriCo Bancshares by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 13,390 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 34 shares during the last quarter. Federated Investors Inc. PA raised its position in TriCo Bancshares by 0.3% in the 2nd quarter. Federated Investors Inc. PA now owns 11,701 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 35 shares during the last quarter. Wells Fargo & Company MN raised its position in TriCo Bancshares by 0.4% in the 2nd quarter. Wells Fargo & Company MN now owns 39,785 shares of the financial services provider’s stock valued at $1,398,000 after purchasing an additional 141 shares during the last quarter. Ameriprise Financial Inc. raised its position in TriCo Bancshares by 0.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 55,529 shares of the financial services provider’s stock valued at $1,952,000 after purchasing an additional 291 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in TriCo Bancshares by 1.2% in the 2nd quarter. Bessemer Group Inc. now owns 34,300 shares of the financial services provider’s stock valued at $1,206,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

TriCo Bancshares Company Profile

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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