TriCo Bancshares (NASDAQ:TCBK) Receives Consensus Recommendation of “Buy” from Brokerages

TriCo Bancshares (NASDAQ:TCBKGet Rating) has received a consensus recommendation of “Buy” from the seven research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $47.67.

TCBK has been the subject of a number of research reports. Zacks Investment Research raised shares of TriCo Bancshares from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Wednesday, April 6th. Stephens raised TriCo Bancshares from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $46.00 to $48.00 in a research note on Wednesday, May 11th. Piper Sandler lowered their target price on TriCo Bancshares from $52.00 to $49.00 and set an “overweight” rating for the company in a research note on Tuesday, May 17th. StockNews.com started coverage on TriCo Bancshares in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Janney Montgomery Scott upgraded TriCo Bancshares from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, May 3rd.

In related news, Director Anthony L. Leggio bought 1,588 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The shares were purchased at an average price of $39.69 per share, with a total value of $63,027.72. Following the purchase, the director now owns 108,597 shares of the company’s stock, valued at approximately $4,310,214.93. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cory W. Giese sold 2,500 shares of the stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $42.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director now directly owns 9,503 shares of the company’s stock, valued at $399,126. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of TCBK. BlackRock Inc. grew its holdings in TriCo Bancshares by 2.3% in the fourth quarter. BlackRock Inc. now owns 2,302,574 shares of the financial services provider’s stock worth $98,920,000 after purchasing an additional 51,537 shares during the period. Vanguard Group Inc. grew its stake in shares of TriCo Bancshares by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 1,418,186 shares of the financial services provider’s stock worth $56,770,000 after buying an additional 52,760 shares during the last quarter. Dimensional Fund Advisors LP increased its position in TriCo Bancshares by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,269,618 shares of the financial services provider’s stock valued at $50,824,000 after buying an additional 35,630 shares in the last quarter. Franklin Resources Inc. raised its stake in TriCo Bancshares by 0.6% during the third quarter. Franklin Resources Inc. now owns 1,247,047 shares of the financial services provider’s stock valued at $54,122,000 after buying an additional 7,354 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in TriCo Bancshares by 1.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,036,585 shares of the financial services provider’s stock worth $44,532,000 after acquiring an additional 13,664 shares in the last quarter. Institutional investors and hedge funds own 57.69% of the company’s stock.

Shares of TriCo Bancshares stock opened at $45.77 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.55 billion, a PE ratio of 13.15 and a beta of 0.55. The business’s 50-day moving average price is $40.62 and its 200-day moving average price is $42.56. TriCo Bancshares has a 12 month low of $37.41 and a 12 month high of $48.96.

TriCo Bancshares (NASDAQ:TCBKGet Rating) last released its earnings results on Thursday, April 28th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The company had revenue of $83.02 million during the quarter, compared to the consensus estimate of $86.35 million. TriCo Bancshares had a return on equity of 10.29% and a net margin of 30.61%. As a group, analysts predict that TriCo Bancshares will post 3.71 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, June 9th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 28.74%.

TriCo Bancshares Company Profile (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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Analyst Recommendations for TriCo Bancshares (NASDAQ:TCBK)

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