TriCo Bancshares (NASDAQ:TCBK) Given Average Recommendation of “Moderate Buy” by Brokerages

TriCo Bancshares (NASDAQ:TCBK) has been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $48.60.

TCBK has been the topic of a number of research analyst reports. Wall Street Zen upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Raymond James Financial reiterated an “outperform” rating and set a $46.00 target price (up previously from $45.00) on shares of TriCo Bancshares in a research report on Friday, October 24th. Zacks Research upgraded shares of TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Keefe, Bruyette & Woods lifted their price target on shares of TriCo Bancshares from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. Finally, Weiss Ratings cut shares of TriCo Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 1st.

TriCo Bancshares Stock Performance

Shares of TriCo Bancshares stock opened at $47.82 on Monday. The business has a 50-day moving average price of $44.85 and a two-hundred day moving average price of $43.27. TriCo Bancshares has a 1-year low of $35.20 and a 1-year high of $49.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.55 billion, a P/E ratio of 13.43 and a beta of 0.64.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Wednesday, October 22nd. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.92 by $0.12. TriCo Bancshares had a return on equity of 9.27% and a net margin of 21.87%.The company had revenue of $107.56 million for the quarter, compared to analyst estimates of $107.08 million. As a group, analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $0.36 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.44 annualized dividend and a yield of 3.0%. TriCo Bancshares’s dividend payout ratio is presently 40.45%.

Institutional Investors Weigh In On TriCo Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC grew its position in TriCo Bancshares by 337.5% in the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 459 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of TriCo Bancshares during the 3rd quarter worth approximately $58,000. PNC Financial Services Group Inc. purchased a new position in shares of TriCo Bancshares in the 3rd quarter worth approximately $76,000. Federated Hermes Inc. grew its holdings in shares of TriCo Bancshares by 17.7% in the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 290 shares in the last quarter. Finally, CWM LLC increased its position in shares of TriCo Bancshares by 74.0% during the third quarter. CWM LLC now owns 2,001 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 851 shares during the last quarter. 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.