TriCo Bancshares (NASDAQ:TCBK) Price Target Raised to $55.00

TriCo Bancshares (NASDAQ:TCBK) had its target price upped by Stephens from $54.00 to $55.00 in a report issued on Monday morning, Marketbeat Ratings reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. Raymond James Financial reiterated an “outperform” rating and issued a $46.00 price objective (up previously from $45.00) on shares of TriCo Bancshares in a research report on Friday, October 24th. Keefe, Bruyette & Woods boosted their target price on shares of TriCo Bancshares from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Monday. Piper Sandler increased their price target on shares of TriCo Bancshares from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Finally, DA Davidson upped their price objective on TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, TriCo Bancshares has an average rating of “Hold” and a consensus target price of $53.80.

TriCo Bancshares Stock Down 0.5%

NASDAQ TCBK opened at $48.83 on Monday. The stock’s 50 day moving average is $48.63 and its two-hundred day moving average is $45.44. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 13.16 and a beta of 0.63. TriCo Bancshares has a 1-year low of $35.20 and a 1-year high of $52.05.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share 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 firm had revenue of $109.40 million for the quarter, compared to analysts’ expectations of $108.19 million. Equities analysts forecast that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, December 5th. TriCo Bancshares’s dividend payout ratio is currently 38.81%.

Institutional Trading of TriCo Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of TriCo Bancshares by 17.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,493 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 1,400 shares during the last quarter. CWM LLC lifted its stake in TriCo Bancshares by 40.2% in the fourth quarter. CWM LLC now owns 2,806 shares of the financial services provider’s stock valued at $133,000 after buying an additional 805 shares during the period. San Luis Wealth Advisors LLC boosted its holdings in TriCo Bancshares by 5.7% during the fourth quarter. San Luis Wealth Advisors LLC now owns 37,351 shares of the financial services provider’s stock worth $1,769,000 after buying an additional 2,001 shares during the last quarter. Farther Finance Advisors LLC grew its position 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 worth $35,000 after buying an additional 211 shares during the period. Finally, Deprince Race & Zollo Inc. grew its position in shares of TriCo Bancshares by 15.2% during the 4th quarter. Deprince Race & Zollo Inc. now owns 87,111 shares of the financial services provider’s stock worth $4,126,000 after buying an additional 11,480 shares during the period. Institutional investors own 59.11% of the company’s stock.

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.