TriCo Bancshares (NASDAQ:TCBK) Receives Average Recommendation of “Moderate Buy” from Analysts

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

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

TriCo Bancshares Stock Performance

TriCo Bancshares stock opened at $48.88 on Thursday. The stock has a 50-day simple moving average of $44.51 and a 200 day simple moving average of $42.21. The stock 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 quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 12-month low of $31.73 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The company had revenue of $133.84 million for the quarter, compared to analyst estimates of $98.65 million. On average, research analysts anticipate that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.32 annualized dividend and a dividend yield of 2.70%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 39.29%.

Institutional Trading of TriCo Bancshares

Hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of TriCo Bancshares during the third quarter worth $28,000. Point72 DIFC Ltd bought a new position in TriCo Bancshares during the 3rd quarter worth about $114,000. Quantbot Technologies LP acquired a new stake in shares of TriCo Bancshares in the 3rd quarter valued at about $129,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TriCo Bancshares in the third quarter valued at about $210,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of TriCo Bancshares in the third quarter valued at about $259,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

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.