Analysts Set TriCo Bancshares (NASDAQ:TCBK) PT at $53.80

TriCo Bancshares (NASDAQ:TCBK) has earned an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $53.80.

TCBK has been the subject of several recent analyst reports. Raymond James Financial restated an “outperform” rating and issued a $46.00 price target (up previously from $45.00) on shares of TriCo Bancshares in a research note on Friday, October 24th. Stephens boosted their target price on TriCo Bancshares from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday. Wall Street Zen upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TriCo Bancshares in a research note on Monday, December 29th. Finally, Piper Sandler boosted their price objective on shares of TriCo Bancshares from $57.00 to $59.00 and gave the company an “overweight” rating in a report on Monday.

TriCo Bancshares Stock Up 1.3%

NASDAQ:TCBK opened at $49.47 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $1.61 billion, a P/E ratio of 13.33 and a beta of 0.63. TriCo Bancshares has a fifty-two week low of $35.20 and a fifty-two week high of $52.05. The firm has a 50-day simple moving average of $48.72 and a two-hundred day simple moving average of $45.47.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. The firm had revenue of $109.40 million for the quarter, compared to the consensus estimate of $108.19 million. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.53%. Analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.9%. TriCo Bancshares’s payout ratio is currently 38.81%.

Institutional Trading of TriCo Bancshares

Several large investors have recently modified their holdings of the company. Larson Financial Group LLC increased its position in TriCo Bancshares by 337.5% during the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 459 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of TriCo Bancshares by 40.3% during the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 211 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of TriCo Bancshares during the 3rd quarter valued at about $58,000. PNC Financial Services Group Inc. bought a new position in shares of TriCo Bancshares in the 3rd quarter worth approximately $76,000. Finally, Federated Hermes Inc. lifted its stake in shares of TriCo Bancshares by 17.7% in 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. Institutional investors own 59.11% of the company’s stock.

About TriCo Bancshares

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.