TriCo Bancshares (NASDAQ:TCBK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of TriCo Bancshares (NASDAQ:TCBK) have been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $48.60.

A number of brokerages have weighed in on TCBK. Stephens reduced their price objective on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. DA Davidson upped their price target on TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $48.00 price target (up previously from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. Finally, Piper Sandler dropped their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, October 28th.

Insider Transactions at TriCo Bancshares

In other news, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $135,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the sale, the director now owns 3,000 shares of the company’s stock, valued at $135,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the completion of the transaction, the director now owns 11,228 shares in the company, valued at $484,039.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.64% of the company’s stock.

Institutional Trading of TriCo Bancshares

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of TriCo Bancshares by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock worth $59,471,000 after buying an additional 50,358 shares in the last quarter. American Century Companies Inc. raised its stake in TriCo Bancshares by 27.3% during the 2nd quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock worth $15,975,000 after buying an additional 86,689 shares during the period. Heartland Advisors Inc. raised its stake in TriCo Bancshares by 25.0% during the 1st quarter. Heartland Advisors Inc. now owns 250,000 shares of the financial services provider’s stock worth $9,195,000 after buying an additional 50,000 shares during the period. Renaissance Technologies LLC raised its stake in TriCo Bancshares by 8.9% during the 2nd quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider’s stock worth $9,333,000 after buying an additional 19,224 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of TriCo Bancshares by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider’s stock valued at $7,305,000 after purchasing an additional 9,723 shares during the period. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

Shares of TriCo Bancshares stock opened at $42.93 on Friday. The business has a 50-day simple moving average of $43.30 and a 200-day simple moving average of $40.67. The company has a market cap of $1.42 billion, a PE ratio of 12.78 and a beta of 0.54. TriCo Bancshares has a one year low of $31.73 and a one year high of $48.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.85.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.60% and a net margin of 21.12%. The firm had revenue of $133.84 million during the quarter, compared to analysts’ expectations of $98.65 million. On average, equities research analysts forecast that TriCo Bancshares will post 3.37 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.32 annualized dividend and a yield of 3.07%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 39.29%.

About TriCo Bancshares

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.