TriCo Bancshares (NASDAQ:TCBK) Given Average Recommendation of “Hold” by Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK) have been given an average rating of “Hold” by the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $53.80.

A number of research firms have issued reports on TCBK. Wall Street Zen raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Piper Sandler raised their price target on TriCo Bancshares from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Monday. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. DA Davidson raised their price target on TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods boosted their price target on TriCo Bancshares from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Monday.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV purchased a new position in shares of TriCo Bancshares in the 3rd quarter worth about $6,972,000. ProShare Advisors LLC lifted its position in TriCo Bancshares by 2,137.5% in the 2nd quarter. ProShare Advisors LLC now owns 154,969 shares of the financial services provider’s stock valued at $6,275,000 after acquiring an additional 148,043 shares in the last quarter. Franklin Resources Inc. boosted its stake in TriCo Bancshares by 7.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,725,857 shares of the financial services provider’s stock valued at $69,880,000 after purchasing an additional 126,571 shares during the last quarter. Allworth Financial LP increased its holdings in shares of TriCo Bancshares by 1,339.5% in the 2nd quarter. Allworth Financial LP now owns 119,393 shares of the financial services provider’s stock worth $4,834,000 after purchasing an additional 111,099 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of TriCo Bancshares by 292.7% in the 3rd quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock worth $6,009,000 after purchasing an additional 100,858 shares in the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Performance

TCBK stock opened at $49.48 on Tuesday. The firm has a market cap of $1.61 billion, a PE ratio of 13.34 and a beta of 0.63. 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 business has a 50 day moving average of $48.48 and a 200-day moving average of $45.37. TriCo Bancshares has a 12-month low of $35.20 and a 12-month high of $52.05.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. TriCo Bancshares had a return on equity of 9.53% and a net margin of 22.56%.The company had revenue of $109.40 million for the quarter, compared to analysts’ expectations of $108.19 million. As a group, sell-side analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Announces Dividend

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

About TriCo Bancshares

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.