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

TriCo Bancshares (NASDAQ:TCBK) has been given an average rating of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $48.60.

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

Insider Activity at TriCo Bancshares

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

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of TriCo Bancshares by 8.2% in the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 287 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in TriCo Bancshares in the 3rd quarter valued at approximately $210,000. ProShare Advisors LLC lifted its position in TriCo Bancshares by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock worth $205,000 after buying an additional 439 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of TriCo Bancshares during the 1st quarter valued at $227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of TriCo Bancshares by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 758 shares in the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Performance

TCBK opened at $47.35 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 business’s 50 day moving average is $43.39 and its 200-day moving average is $41.18. The stock has a market cap of $1.56 billion, a PE ratio of 14.09 and a beta of 0.54. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $50.63.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. The firm had revenue of $133.84 million for 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%. On average, analysts predict that TriCo Bancshares will post 3.38 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s dividend payout ratio is 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.