TriCo Bancshares (NASDAQ:TCBK) Price Target Lowered to $50.00 at Stephens

TriCo Bancshares (NASDAQ:TCBK) had its target price lowered by Stephens from $52.00 to $50.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. Piper Sandler lowered their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday. DA Davidson boosted their price target 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, Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.60.

TriCo Bancshares Price Performance

TriCo Bancshares stock opened at $43.43 on Tuesday. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 13.24 and a beta of 0.54. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $48.80. The stock’s 50 day moving average is $43.32 and its 200-day moving average is $40.57.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (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 return on equity of 9.60% and a net margin of 21.12%. Equities research analysts expect that TriCo Bancshares will post 3.34 EPS for the current year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.33 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a yield of 3.04%. TriCo Bancshares’s dividend payout ratio (DPR) is 40.24%.

Insiders Place Their Bets

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

Institutional Trading of TriCo Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC boosted its holdings 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 valued at $139,000 after acquiring an additional 287 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of 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 buying an additional 439 shares during the period. Quantbot Technologies LP acquired a new position in shares of TriCo Bancshares in the first quarter valued at approximately $227,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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. Finally, Principal Financial Group Inc. boosted its position in 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 buying an additional 3,460 shares during the period. Institutional investors own 59.11% 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. 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.