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

TriCo Bancshares (NASDAQ:TCBK) has been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $48.20.

TCBK has been the subject of a number of research analyst reports. DA Davidson downgraded shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Piper Sandler reduced their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, Stephens lowered their price target on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th.

Insider Transactions at TriCo Bancshares

In related news, Director Cory W. Giese sold 5,100 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the sale, the director now directly owns 6,128 shares in the company, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.64% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in TriCo Bancshares in the 3rd quarter valued at $28,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 worth $315,000 after buying an additional 758 shares in the last quarter. Principal Financial Group Inc. boosted its stake in TriCo Bancshares by 7.5% during the second quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock valued at $553,000 after buying an additional 973 shares during the period. Chico Wealth RIA grew its position in TriCo Bancshares by 2.3% during the third quarter. Chico Wealth RIA now owns 43,954 shares of the financial services provider’s stock worth $1,875,000 after buying an additional 1,000 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in TriCo Bancshares by 2.2% in the 3rd quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider’s stock worth $2,049,000 after acquiring an additional 1,013 shares during the last quarter. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

TCBK stock opened at $44.45 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.47 billion, a PE ratio of 13.23 and a beta of 0.56. The business has a 50 day moving average of $46.46 and a 200-day moving average of $43.47. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. As a group, sell-side analysts expect that TriCo Bancshares will post 3.38 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.97%. TriCo Bancshares’s dividend payout ratio is presently 39.29%.

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.