TriCo Bancshares (NASDAQ:TCBK) Price Target Raised to $54.00 at DA Davidson

TriCo Bancshares (NASDAQ:TCBK) had its price objective increased by DA Davidson from $51.00 to $54.00 in a research report report published on Friday morning, MarketBeat Ratings reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

TCBK has been the subject of several other reports. Wall Street Zen raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings restated a “hold (c+)” rating on shares of TriCo Bancshares in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price target on TriCo Bancshares from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. Raymond James Financial reissued an “outperform” rating and issued a $46.00 price objective (up from $45.00) on shares of TriCo Bancshares in a research note on Friday, October 24th. Finally, Zacks Research cut shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.40.

TriCo Bancshares Trading Down 2.9%

Shares of TCBK stock opened at $49.98 on Friday. The business’s fifty day moving average price is $48.38 and its 200 day moving average price is $45.29. The firm has a market capitalization of $1.62 billion, a PE ratio of 13.47 and a beta of 0.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. TriCo Bancshares has a 1-year low of $35.20 and a 1-year high of $52.05.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.02. TriCo Bancshares had a return on equity of 9.53% and a net margin of 22.56%.The company had revenue of $109.40 million during the quarter, compared to the consensus estimate of $108.19 million. As a group, sell-side analysts forecast that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, December 5th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 40.45%.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds have recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after buying an additional 459 shares during the last quarter. Farther Finance Advisors LLC grew its stake in TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 211 shares during the period. State of Alaska Department of Revenue acquired a new position in TriCo Bancshares in the 3rd quarter valued at $58,000. PNC Financial Services Group Inc. purchased a new position in shares of TriCo Bancshares during the 3rd quarter worth $76,000. Finally, Federated Hermes Inc. lifted its stake in shares of TriCo Bancshares by 17.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 290 shares during the period. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Company Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.