TriCo Bancshares (NASDAQ:TCBK) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of TriCo Bancshares (NASDAQ:TCBK) have been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $49.80.

A number of brokerages have weighed in on TCBK. DA Davidson lifted their price target on shares of TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $48.00 target price (up previously from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Stephens lifted their price objective on TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Piper Sandler increased their target price on TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.

Insider Transactions at TriCo Bancshares

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

Institutional Investors Weigh In On TriCo Bancshares

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of TriCo Bancshares by 8.2% during the first quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 287 shares during the period. ProShare Advisors LLC grew its holdings in shares of TriCo Bancshares by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 439 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of TriCo Bancshares in the 1st quarter valued at approximately $227,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of TriCo Bancshares by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 758 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in TriCo Bancshares by 36.2% during the first quarter. Principal Financial Group Inc. now owns 13,005 shares of the financial services provider’s stock valued at $478,000 after buying an additional 3,460 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors.

TriCo Bancshares Stock Up 0.6 %

Shares of TCBK opened at $41.52 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.38 billion, a P/E ratio of 12.66 and a beta of 0.54. The stock’s 50 day moving average is $42.93 and its two-hundred day moving average is $39.60. TriCo Bancshares has a 12 month low of $29.38 and a 12 month high of $48.80.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. TriCo Bancshares had a return on equity of 9.93% and a net margin of 21.63%. The firm had revenue of $97.86 million during the quarter, compared to analysts’ expectations of $98.55 million. Analysts predict that TriCo Bancshares will post 3.31 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Friday, September 6th. TriCo Bancshares’s dividend payout ratio (DPR) is 40.24%.

TriCo Bancshares Company Profile

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.