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

TriCo Bancshares (NASDAQ:TCBK) has earned a consensus recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $50.75.

A number of equities research analysts have recently weighed in on TCBK shares. Piper Sandler cut their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. DA Davidson cut shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and lifted their price target for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Keefe, Bruyette & Woods decreased their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a report on Tuesday, January 28th. Finally, Stephens dropped their target price on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th.

Insider Activity

In related news, Director Cory W. Giese sold 5,100 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 6,128 shares in the company, valued at $303,152.16. This represents a 45.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.64% of the company’s stock.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in shares of TriCo Bancshares by 0.7% during the third quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock valued at $33,344,000 after acquiring an additional 5,155 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in TriCo Bancshares by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock valued at $19,041,000 after purchasing an additional 25,817 shares during the last quarter. Curi RMB Capital LLC increased its holdings in shares of TriCo Bancshares by 1.6% in the 3rd quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider’s stock worth $14,792,000 after purchasing an additional 5,314 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of TriCo Bancshares by 1.7% in the fourth quarter. Bank of New York Mellon Corp now owns 169,294 shares of the financial services provider’s stock worth $7,398,000 after purchasing an additional 2,875 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of TriCo Bancshares by 23.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock valued at $7,035,000 after purchasing an additional 30,227 shares in the last quarter. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Trading Down 0.3 %

Shares of TCBK opened at $44.15 on Tuesday. The stock has a market capitalization of $1.46 billion, a P/E ratio of 12.76 and a beta of 0.57. 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 firm has a fifty day simple moving average of $44.59 and a two-hundred day simple moving average of $44.40.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. On average, research analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.99%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s dividend payout ratio is currently 38.15%.

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.