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

Shares of TriCo Bancshares (NASDAQ:TCBK) have received an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $48.20.

A number of research firms have weighed in on TCBK. DA Davidson lowered shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their price objective for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Piper Sandler decreased their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, Stephens cut their target price on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th.

Insiders Place Their Bets

In other news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the transaction, the director now directly owns 6,128 shares in the company, valued at $303,152.16. This trade represents a 45.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.64% of the stock is currently owned by insiders.

Institutional Trading of TriCo Bancshares

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of TriCo Bancshares by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after purchasing an additional 50,358 shares during the period. Geode Capital Management LLC boosted its holdings in shares of TriCo Bancshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock worth $33,344,000 after buying an additional 5,155 shares during the last quarter. JPMorgan Chase & Co. grew its position in TriCo Bancshares by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock valued at $19,041,000 after buying an additional 25,817 shares during the period. American Century Companies Inc. increased its holdings in TriCo Bancshares by 27.3% during the second quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock valued at $15,975,000 after buying an additional 86,689 shares during the last quarter. Finally, Curi RMB Capital LLC increased its holdings in TriCo Bancshares by 1.6% during the third quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider’s stock valued at $14,792,000 after buying an additional 5,314 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

TriCo Bancshares stock opened at $42.70 on Friday. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $51.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.41 billion, a P/E ratio of 12.71 and a beta of 0.58. The stock’s 50 day moving average is $46.02 and its 200 day moving average is $44.17.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. The business had revenue of $133.84 million for the quarter, compared to the consensus estimate of $98.65 million. On average, equities research analysts predict that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s dividend payout ratio is currently 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.