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

TriCo Bancshares (NASDAQ:TCBK) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $48.20.

TCBK has been the subject of several recent analyst reports. Stephens dropped their target price on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Piper Sandler dropped their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, DA Davidson downgraded TriCo Bancshares from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $50.00 to $53.00 in a research report on Tuesday, November 12th.

TriCo Bancshares Price Performance

NASDAQ:TCBK opened at $48.88 on Thursday. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 14.55 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day simple moving average of $44.51 and a 200-day simple moving average of $42.21. TriCo Bancshares has a 1 year low of $31.73 and a 1 year high of $51.06.

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

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, December 6th. TriCo Bancshares’s dividend payout ratio is 39.29%.

Hedge Funds Weigh In On TriCo Bancshares

Several institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in TriCo Bancshares during the 3rd quarter worth about $28,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of TriCo Bancshares by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 758 shares in the last quarter. Principal Financial Group Inc. increased its holdings in TriCo Bancshares by 7.5% during the second quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock valued at $553,000 after buying an additional 973 shares during the period. Chico Wealth RIA raised its stake in TriCo Bancshares by 2.3% in the third quarter. Chico Wealth RIA now owns 43,954 shares of the financial services provider’s stock worth $1,875,000 after buying an additional 1,000 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in TriCo Bancshares by 2.2% during the third quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider’s stock worth $2,049,000 after buying an additional 1,013 shares during the period. Hedge funds and other institutional investors own 59.11% of the company’s stock.

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.