TriCo Bancshares (NASDAQ:TCBK) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $48.60.

Several equities analysts have issued reports on TCBK shares. Piper Sandler dropped their price target on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Stephens lowered their target price on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Janney Montgomery Scott reiterated a “neutral” rating on shares of TriCo Bancshares in a report on Friday, July 26th. DA Davidson upped their price objective on TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $48.00 price objective (up previously from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th.

Insider Activity at TriCo Bancshares

In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the transaction, the director now directly owns 11,228 shares in the company, valued at $484,039.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at $135,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cory W. Giese sold 3,465 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the sale, the director now owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in shares of TriCo Bancshares by 8.2% during the first quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 287 shares during the period. ProShare Advisors LLC lifted its position in TriCo Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 439 shares during the period. Quantbot Technologies LP purchased a new position in TriCo Bancshares in the first quarter valued at about $227,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in TriCo Bancshares by 10.5% in the second 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 in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of TriCo Bancshares by 36.2% during the 1st quarter. Principal Financial Group Inc. now owns 13,005 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 3,460 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Trading Up 0.5 %

Shares of TCBK stock opened at $42.93 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.42 billion, a P/E ratio of 12.78 and a beta of 0.54. The stock has a 50 day simple moving average of $43.30 and a 200 day simple moving average of $40.67. TriCo Bancshares has a 1 year low of $31.73 and a 1 year high of $48.80.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The business had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.60%. On average, research analysts predict that TriCo Bancshares will post 3.37 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s dividend payout ratio (DPR) is 39.29%.

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. 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.