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

TriCo Bancshares (NASDAQ:TCBKGet Rating) has received an average rating of “Buy” from the six brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $47.60.

A number of research analysts recently commented on the company. StockNews.com initiated coverage on TriCo Bancshares in a report on Thursday, March 31st. They issued a “hold” rating for the company. Raymond James increased their target price on TriCo Bancshares from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Wednesday, January 26th. Zacks Investment Research upgraded shares of TriCo Bancshares from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Wednesday, April 6th. Finally, Janney Montgomery Scott upgraded shares of TriCo Bancshares from a “neutral” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday.

Shares of TCBK stock opened at $38.42 on Tuesday. The firm has a fifty day simple moving average of $40.71 and a 200-day simple moving average of $42.85. The company has a market capitalization of $1.30 billion, a PE ratio of 11.04 and a beta of 0.55. TriCo Bancshares has a twelve month low of $37.41 and a twelve month high of $48.96. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11.

TriCo Bancshares (NASDAQ:TCBKGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. TriCo Bancshares had a net margin of 30.61% and a return on equity of 10.62%. Equities research analysts predict that TriCo Bancshares will post 3.51 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were issued a $0.25 dividend. The ex-dividend date was Thursday, March 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.60%. TriCo Bancshares’s dividend payout ratio (DPR) is 28.74%.

Hedge funds have recently added to or reduced their stakes in the business. Chico Wealth RIA bought a new position in shares of TriCo Bancshares in the 1st quarter worth about $1,719,000. Krilogy Financial LLC bought a new position in TriCo Bancshares in the first quarter worth about $755,000. Pacific Global Investment Management Co. bought a new position in TriCo Bancshares in the first quarter worth about $570,000. Woodward Diversified Capital LLC acquired a new position in TriCo Bancshares in the first quarter valued at approximately $557,000. Finally, Ridgewood Investments LLC bought a new position in shares of TriCo Bancshares during the first quarter valued at approximately $301,000. Hedge funds and other institutional investors own 57.69% of the company’s stock.

About TriCo Bancshares (Get Rating)

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; commercial loans, including agricultural loans; and real estate construction loans.

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