TriCo Bancshares (NASDAQ:TCBK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of TriCo Bancshares (NASDAQ:TCBK) have been given an average recommendation of “Moderate Buy” by the six brokerages that are 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 twelve-month target price among analysts that have updated their coverage on the stock in the last year is $48.20.

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

Insider Activity

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were 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 owns 6,128 shares in the company, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.64% of the stock is currently owned by company insiders.

Institutional Trading of TriCo Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCBK. Bank of New York Mellon Corp boosted its position in shares of TriCo Bancshares by 5.6% during the second quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider’s stock valued at $7,305,000 after buying an additional 9,723 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in 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 acquiring an additional 758 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in TriCo Bancshares by 7.5% during the 2nd quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 973 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of TriCo Bancshares in the 2nd quarter worth $1,002,000. Finally, Rhumbline Advisers raised its holdings in shares of TriCo Bancshares by 1.8% in the second quarter. Rhumbline Advisers now owns 63,125 shares of the financial services provider’s stock valued at $2,498,000 after purchasing an additional 1,109 shares during the last quarter. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Stock Performance

Shares of TriCo Bancshares stock opened at $44.45 on Monday. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 13.23 and a beta of 0.56. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $51.06. The company’s fifty day moving average is $46.46 and its 200 day moving average is $43.47. 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 (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. The firm had revenue of $133.84 million for the quarter, compared to analyst estimates of $98.65 million. Sell-side analysts forecast that TriCo Bancshares will post 3.38 EPS for the current year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.97%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 39.29%.

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.