TriCo Bancshares (NASDAQ:TCBK) Stock Rated “Hold” by Wall Street Brokerages

Shares of TriCo Bancshares (NASDAQ:TCBK) have received a consensus rating of “Hold” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $55.30.

A number of equities analysts recently weighed in on TCBK shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TriCo Bancshares in a research note on Friday, October 2nd. Stephens upgraded TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th. DA Davidson reduced their price objective on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Raymond James Financial downgraded TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Finally, Piper Sandler dropped their target price on TriCo Bancshares from $63.00 to $56.50 and set a “neutral” rating on the stock in a research report on Thursday, October 1st.

Institutional Trading of TriCo Bancshares

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in TriCo Bancshares in the second quarter valued at $137,197,000. Dimensional Fund Advisors LP boosted its stake in shares of TriCo Bancshares by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,696,463 shares of the financial services provider’s stock worth $80,650,000 after buying an additional 11,298 shares during the last quarter. Davis Asset Management L.P. bought a new position in shares of TriCo Bancshares in the 2nd quarter valued at about $56,376,000. The Manufacturers Life Insurance Company acquired a new stake in shares of TriCo Bancshares in the second quarter valued at about $22,526,000. Finally, Heartland Advisors Inc. acquired a new stake in shares of TriCo Bancshares in the second quarter valued at about $13,462,000. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

Shares of TCBK stock opened at $51.91 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $1.66 billion, a P/E ratio of 12.45 and a beta of 0.66. The company’s 50 day moving average price is $54.37 and its two-hundred day moving average price is $52.80. TriCo Bancshares has a 52 week low of $40.44 and a 52 week high of $61.71.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share 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 company had revenue of $111.88 million during the quarter, compared to analysts’ expectations of $110.99 million. On average, analysts expect that TriCo Bancshares will post 4.28 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, September 11th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 34.53%.

About TriCo Bancshares

TriCo Bancshares is a bank holding company headquartered in Chico, California. Its principal subsidiary, Tri Counties Bank, provides banking and financial services to individuals, families, businesses, agricultural customers and public-sector organizations.

Tri Counties Bank offers deposit accounts, consumer and business loans, residential and commercial real estate financing, cash-management services, online and mobile banking, and other treasury services. The bank also provides wealth management, investment and fiduciary services through its affiliated offerings.

Founded in 1975, Tri Counties Bank has developed a community-banking presence across Northern and Central California.