Stephens Issues Positive Forecast for TriCo Bancshares (NASDAQ:TCBK) Stock Price

TriCo Bancshares (NASDAQ:TCBK) had its target price hoisted by Stephens from $54.00 to $55.00 in a research note released on Monday morning, Marketbeat Ratings reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on the company. DA Davidson lifted their price objective on TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday. Wall Street Zen upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Raymond James Financial reissued an “outperform” rating and set a $46.00 price objective (up from $45.00) on shares of TriCo Bancshares in a report on Friday, October 24th. Keefe, Bruyette & Woods raised their target price on shares of TriCo Bancshares from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TriCo Bancshares in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, TriCo Bancshares has an average rating of “Hold” and an average price target of $53.80.

TriCo Bancshares Price Performance

Shares of NASDAQ TCBK opened at $49.48 on Monday. TriCo Bancshares has a twelve month low of $35.20 and a twelve month high of $52.05. The firm has a market cap of $1.61 billion, a P/E ratio of 13.34 and a beta of 0.63. The company has a 50 day moving average of $48.48 and a 200 day moving average of $45.37. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.01 by $0.02. The business had revenue of $109.40 million for the quarter, compared to the consensus estimate of $108.19 million. TriCo Bancshares had a return on equity of 9.53% and a net margin of 22.56%. As a group, research analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, December 5th. TriCo Bancshares’s dividend payout ratio is currently 38.81%.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in TriCo Bancshares by 28.9% in the 1st quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider’s stock worth $1,307,000 after purchasing an additional 7,334 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of TriCo Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock worth $760,000 after buying an additional 820 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of TriCo Bancshares by 4.4% in the first quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock worth $25,727,000 after buying an additional 27,193 shares during the period. Empowered Funds LLC lifted its position in shares of TriCo Bancshares by 8.4% during the 1st quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock valued at $2,047,000 after buying an additional 3,951 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in TriCo Bancshares by 280.1% in the 1st quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock worth $1,977,000 after acquiring an additional 36,443 shares in the last quarter. Institutional investors 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.