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

TriCo Bancshares (NASDAQ:TCBK) has been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $53.80.

A number of brokerages have weighed in on TCBK. Piper Sandler upped their price objective on shares of TriCo Bancshares from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Weiss Ratings restated a “hold (c+)” rating on shares of TriCo Bancshares in a research note on Monday, December 29th. Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Stephens boosted their target price on TriCo Bancshares from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Finally, Wall Street Zen raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TCBK. 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 buying an additional 459 shares during the last quarter. Danske Bank A S purchased a new stake in TriCo Bancshares during the 4th quarter valued at $28,000. Farther Finance Advisors LLC increased its holdings in shares of TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 211 shares in the last quarter. Abound Financial LLC purchased a new position in shares of TriCo Bancshares in the fourth quarter worth $43,000. Finally, State of Alaska Department of Revenue bought a new position in shares of TriCo Bancshares during the third quarter valued at $58,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Price Performance

Shares of TCBK stock opened at $50.47 on Friday. The business’s fifty day moving average is $49.54 and its 200 day moving average is $46.47. 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 $1.64 billion, a price-to-earnings ratio of 13.60 and a beta of 0.64. TriCo Bancshares has a twelve month low of $35.20 and a twelve month high of $53.18.

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

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.