TriCo Bancshares (NASDAQ:TCBK) Receives Average Rating of “Moderate Buy” from Analysts

TriCo Bancshares (NASDAQ:TCBK) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $48.20.

TCBK has been the subject of several analyst reports. DA Davidson downgraded shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Piper Sandler lowered their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Finally, Stephens cut their target price on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th.

TriCo Bancshares Stock Up 0.7 %

TriCo Bancshares stock opened at $48.88 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $51.06. The company has a fifty day simple moving average of $44.51 and a 200 day simple moving average of $42.21. The company has a market cap of $1.61 billion, a P/E ratio of 14.55 and a beta of 0.54.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The business had revenue of $133.84 million for the quarter, compared to the consensus estimate of $98.65 million. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. Research analysts anticipate that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.70%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 39.29%.

Hedge Funds Weigh In On TriCo Bancshares

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in TriCo Bancshares by 839.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock valued at $5,577,000 after purchasing an additional 116,838 shares during the period. American Century Companies Inc. boosted its position in shares of TriCo Bancshares by 27.3% in the second quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock valued at $15,975,000 after acquiring an additional 86,689 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of TriCo Bancshares by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after acquiring an additional 50,358 shares in the last quarter. Barclays PLC increased its position in TriCo Bancshares by 127.0% during the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock worth $2,468,000 after acquiring an additional 32,379 shares during the period. Finally, Hantz Financial Services Inc. acquired a new stake in TriCo Bancshares in the 2nd quarter worth about $1,002,000. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.