TriCo Bancshares (NASDAQ:TCBK) Stock Has Consensus Target Price of $55.62

Shares of TriCo Bancshares (NASDAQ:TCBK) have received an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $55.62.

A number of analysts have recently issued reports on the stock. Raymond James Financial downgraded shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Stephens upgraded TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of TriCo Bancshares in a research report on Friday, October 2nd. DA Davidson reissued a “neutral” rating and set a $55.00 target price on shares of TriCo Bancshares in a research note on Tuesday, October 27th. Finally, Piper Sandler downgraded TriCo Bancshares from a “neutral” rating to a “hold” rating in a research report on Monday, October 26th.

Institutional Trading of TriCo Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in TriCo Bancshares during the 2nd quarter valued at about $26,000. Swiss National Bank grew its position in TriCo Bancshares by 1.0% in the 1st quarter. Swiss National Bank now owns 61,100 shares of the financial services provider’s stock valued at $2,905,000 after acquiring an additional 600 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in TriCo Bancshares in the 2nd quarter valued at about $36,000. Parallel Advisors LLC increased its stake in TriCo Bancshares by 88.5% during the first quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 676 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in TriCo Bancshares by 69.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,964 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 802 shares during the period. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Up 1.8%

NASDAQ TCBK opened at $53.91 on Thursday. The business’s fifty day simple moving average is $52.79 and its 200-day simple moving average is $52.02. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.72 billion, a PE ratio of 12.51 and a beta of 0.67. TriCo Bancshares has a 52 week low of $44.19 and a 52 week high of $61.71.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.09. The firm had revenue of $116.71 million during the quarter, compared to analyst estimates of $114.63 million. TriCo Bancshares had a net margin of 25.10% and a return on equity of 10.47%. As a group, equities analysts anticipate that TriCo Bancshares will post 4.39 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, November 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. TriCo Bancshares’s dividend payout ratio is currently 33.41%.

TriCo Bancshares Company Profile

TriCo Bancshares (NASDAQ: TCBK) is a bank holding company headquartered in Chico, California. Through its principal subsidiary, Tri Counties Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and public entities.

Tri Counties Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and other financial services.