Brokerages Set TriCo Bancshares (NASDAQ:TCBK) Price Target at $50.75

TriCo Bancshares (NASDAQ:TCBK) has been given a consensus rating of “Hold” by the five ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment 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 brokers that have updated their coverage on the stock in the last year is $50.75.

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods reduced their price target on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a report on Tuesday, January 28th. Piper Sandler reduced their price target on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. DA Davidson lowered TriCo Bancshares from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Finally, Stephens reduced their price target on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th.

TriCo Bancshares Trading Up 1.3 %

Shares of TCBK stock opened at $44.92 on Tuesday. The stock’s fifty day moving average is $44.28 and its two-hundred day moving average is $44.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $1.48 billion, a P/E ratio of 12.98 and a beta of 0.57. TriCo Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. Research analysts expect 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 20th. Investors of record on Friday, December 6th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, December 6th. TriCo Bancshares’s payout ratio is 38.15%.

Insider Buying and Selling

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the completion of the transaction, the director now directly owns 6,128 shares of the company’s stock, valued at $303,152.16. The trade was a 45.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.64% of the company’s stock.

Hedge Funds Weigh In On TriCo Bancshares

Several institutional investors have recently bought and sold shares of the company. Ironwood Investment Management LLC grew its position in TriCo Bancshares by 1.6% in the 4th quarter. Ironwood Investment Management LLC now owns 15,670 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 253 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in TriCo Bancshares by 8.4% in the 4th quarter. Ameritas Investment Partners Inc. now owns 3,347 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 258 shares in the last quarter. Two Sigma Securities LLC grew its position in TriCo Bancshares by 8.5% in the 4th quarter. Two Sigma Securities LLC now owns 5,668 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 446 shares in the last quarter. LPL Financial LLC grew its position in TriCo Bancshares by 4.1% in the 4th quarter. LPL Financial LLC now owns 11,704 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 466 shares in the last quarter. Finally, Rhumbline Advisers grew its position in TriCo Bancshares by 1.1% in the 4th quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider’s stock valued at $2,580,000 after acquiring an additional 652 shares in the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

About TriCo Bancshares

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.