TriCo Bancshares (NASDAQ:TCBK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

TriCo Bancshares (NASDAQ:TCBK) has received an average rating of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $49.80.

Several research firms recently commented on TCBK. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $48.00 target price (up from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. DA Davidson upped their price target on shares of TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Stephens upped their price target on shares of TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Finally, Piper Sandler upped their price target on shares of TriCo Bancshares from $47.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, July 29th.

Insiders Place Their Bets

In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $135,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Cory W. Giese sold 3,465 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $43.11, for a total transaction of $149,376.15. Following the transaction, the director now owns 11,228 shares in the company, valued at approximately $484,039.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $135,600. The disclosure for this sale can be found here. Insiders own 4.64% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC increased its stake in shares of TriCo Bancshares by 470.9% during the 4th quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 777 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of TriCo Bancshares by 8.2% during the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 287 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of TriCo Bancshares by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 439 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of TriCo Bancshares during the 1st quarter worth $227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in TriCo Bancshares by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after buying an additional 758 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Up 3.1 %

TCBK stock opened at $43.16 on Friday. TriCo Bancshares has a 12 month low of $29.38 and a 12 month high of $48.80. The firm has a market cap of $1.42 billion, a PE ratio of 13.16 and a beta of 0.54. The firm has a 50 day simple moving average of $43.46 and a 200 day simple moving average of $38.53. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%. The business had revenue of $97.86 million during the quarter, compared to analyst estimates of $98.55 million. Equities research analysts forecast that TriCo Bancshares will post 3.3 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $0.33 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a yield of 3.06%. TriCo Bancshares’s payout ratio is 40.24%.

About TriCo Bancshares

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; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.