TriCo Bancshares (NASDAQ:TCBK) Receives $56.60 Consensus Target Price from Brokerages

TriCo Bancshares (NASDAQ:TCBK) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $56.60.

TCBK has been the topic of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of TriCo Bancshares in a research report on Wednesday, July 8th. Raymond James Financial lowered TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Piper Sandler boosted their price objective on TriCo Bancshares from $61.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Stephens upgraded TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. Finally, DA Davidson decreased their price objective on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th.

Institutional Trading of TriCo Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in TriCo Bancshares during the second quarter worth $26,000. 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. Danske Bank A S purchased a new stake in shares of TriCo Bancshares in the fourth quarter valued at $28,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of TriCo Bancshares in the second quarter valued at $36,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of 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 last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Trading Down 0.2%

Shares of TCBK opened at $57.46 on Friday. The stock has a market capitalization of $1.84 billion, a PE ratio of 13.78 and a beta of 0.60. The company’s fifty day moving average is $55.77 and its 200 day moving average is $51.69. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. TriCo Bancshares has a fifty-two week low of $40.44 and a fifty-two week high of $61.71.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. The business had revenue of $111.88 million during the quarter, compared to analyst estimates of $110.99 million. Sell-side analysts expect that TriCo Bancshares will post 4.28 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.5%. TriCo Bancshares’s payout ratio is currently 34.53%.

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.