TriCo Bancshares (NASDAQ:TCBK) Receives Average Rating of “Hold” from Brokerages

Shares of TriCo Bancshares (NASDAQ:TCBK) have earned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $48.60.

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods increased 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 report on Monday, October 27th. Zacks Research cut TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Raymond James Financial reissued an “outperform” rating and set a $46.00 price target (up previously from $45.00) on shares of TriCo Bancshares in a research report on Friday, October 24th. Weiss Ratings restated a “hold (c+)” rating on shares of TriCo Bancshares in a research report on Monday. Finally, Wall Street Zen raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th.

TriCo Bancshares Price Performance

TCBK stock opened at $47.37 on Friday. The business has a 50 day moving average price of $47.04 and a 200 day moving average price of $44.38. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 13.31 and a beta of 0.63. TriCo Bancshares has a fifty-two week low of $35.20 and a fifty-two week high of $50.60.

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

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, December 5th. TriCo Bancshares’s dividend payout ratio (DPR) is 40.45%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of TriCo Bancshares by 13.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 361,435 shares of the financial services provider’s stock valued at $16,051,000 after buying an additional 42,657 shares during the period. Mariner LLC bought a new position in TriCo Bancshares in the third quarter worth about $498,000. Mercer Global Advisors Inc. ADV acquired a new position in TriCo Bancshares in the third quarter valued at approximately $6,972,000. Millennium Management LLC grew its holdings in shares of TriCo Bancshares by 292.7% during the third quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock valued at $6,009,000 after purchasing an additional 100,858 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of TriCo Bancshares by 337.5% during the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 459 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Company Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.