TriCo Bancshares (NASDAQ:TCBK) Given Average Rating of “Moderate Buy” by Analysts

TriCo Bancshares (NASDAQ:TCBK) has been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $53.80.

Several equities analysts recently issued reports on TCBK shares. Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Stephens lifted their price objective on TriCo Bancshares from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. DA Davidson boosted their price objective on TriCo Bancshares from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods upped their target price on TriCo Bancshares from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, January 26th. Finally, Weiss Ratings raised TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th.

TriCo Bancshares Price Performance

Shares of TriCo Bancshares stock opened at $46.65 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $1.50 billion, a PE ratio of 12.57 and a beta of 0.63. The firm has a fifty day moving average price of $49.37 and a two-hundred day moving average price of $47.10. TriCo Bancshares has a fifty-two week low of $35.20 and a fifty-two week high of $53.18.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.43%. The company had revenue of $109.40 million for the quarter, compared to the consensus estimate of $108.19 million. Analysts expect that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $0.36 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.1%. TriCo Bancshares’s dividend payout ratio is currently 38.81%.

Institutional Trading of TriCo Bancshares

Several institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its stake 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 valued at $35,000 after purchasing an additional 211 shares during the period. Federated Hermes Inc. lifted its position in shares of TriCo Bancshares by 17.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock worth $78,000 after buying an additional 290 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in TriCo Bancshares by 1.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 30,254 shares of the financial services provider’s stock valued at $1,433,000 after buying an additional 329 shares in the last quarter. Larson Financial Group LLC grew its position in TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 459 shares during the period. Finally, Rafferty Asset Management LLC grew its position in TriCo Bancshares by 3.2% in the third quarter. Rafferty Asset Management LLC now owns 17,106 shares of the financial services provider’s stock valued at $760,000 after acquiring an additional 525 shares during the period. 59.11% of the stock is currently owned by institutional investors and hedge funds.

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.