TriCo Bancshares (NASDAQ:TCBK) Given Average Rating of “Moderate Buy” by Brokerages

Shares of TriCo Bancshares (NASDAQ:TCBK) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $48.20.

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

Hedge Funds Weigh In On TriCo Bancshares

A number of institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its stake in shares of TriCo Bancshares by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,895 shares of the financial services provider’s stock worth $1,063,000 after acquiring an additional 1,119 shares during the period. SG Americas Securities LLC acquired a new stake in TriCo Bancshares during the 3rd quarter worth about $395,000. Creative Planning grew its position in TriCo Bancshares by 62.6% during the 2nd quarter. Creative Planning now owns 21,447 shares of the financial services provider’s stock worth $849,000 after purchasing an additional 8,260 shares during the period. Versor Investments LP purchased a new position in shares of TriCo Bancshares during the 3rd quarter valued at about $699,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of TriCo Bancshares by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after buying an additional 50,358 shares during the period. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Performance

Shares of TriCo Bancshares stock opened at $48.88 on Thursday. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. The company has a market capitalization of $1.61 billion, a PE ratio of 14.55 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50-day simple moving average of $44.51 and a two-hundred day simple moving average of $42.21.

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, topping the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The business had revenue of $133.84 million for the quarter, compared to analyst estimates of $98.65 million. Research analysts expect that TriCo Bancshares will post 3.38 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.33 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.70%. TriCo Bancshares’s dividend payout ratio is currently 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.