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

TriCo Bancshares (NASDAQ:TCBK) has been assigned an average rating of “Hold” from the five research firms that are currently 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 1 year price target among analysts that have issued ratings on the stock in the last year is $50.75.

A number of equities research analysts recently issued reports on the stock. DA Davidson downgraded shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and upped their price target for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods lowered their price target 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.

Insider Transactions at TriCo Bancshares

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

Institutional Investors Weigh In On TriCo Bancshares

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in TriCo Bancshares in the third quarter valued at approximately $28,000. Sterling Capital Management LLC boosted its holdings in TriCo Bancshares by 800.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider’s stock worth $44,000 after buying an additional 896 shares in the last quarter. Aquatic Capital Management LLC boosted its holdings in TriCo Bancshares by 129.5% during the fourth quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,295 shares in the last quarter. Point72 DIFC Ltd purchased a new position in TriCo Bancshares in the third quarter valued at $114,000. Finally, Quantbot Technologies LP acquired a new position in shares of TriCo Bancshares in the third quarter worth about $129,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Down 0.2 %

NASDAQ TCBK opened at $41.75 on Friday. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.38 billion, a PE ratio of 12.07 and a beta of 0.57. The stock’s 50 day moving average is $43.53 and its 200 day moving average is $44.44.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. Research analysts predict that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.32 annualized dividend and a dividend yield of 3.16%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 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.