TriCo Bancshares (TCBK) Given Consensus Rating of “Hold” by Brokerages
TriCo Bancshares (NASDAQ:TCBK) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $40.00.
A number of brokerages recently commented on TCBK. Zacks Investment Research upgraded TriCo Bancshares from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Thursday, November 2nd. BidaskClub lowered TriCo Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. FIG Partners lowered TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $43.00 price objective on shares of TriCo Bancshares in a research report on Thursday.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in TriCo Bancshares during the second quarter worth about $129,000. Raymond James Financial Services Advisors Inc. bought a new position in TriCo Bancshares during the second quarter worth about $211,000. Trexquant Investment LP bought a new position in TriCo Bancshares during the second quarter worth about $243,000. Susquehanna International Group LLP bought a new position in TriCo Bancshares during the second quarter worth about $245,000. Finally, Virtu KCG Holdings LLC bought a new position in TriCo Bancshares during the second quarter worth about $248,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). The firm had revenue of $57.01 million during the quarter, compared to analyst estimates of $56.99 million. TriCo Bancshares had a return on equity of 10.17% and a net margin of 21.87%. analysts expect that TriCo Bancshares will post 2.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.73%. TriCo Bancshares’s payout ratio is 31.63%.
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About TriCo Bancshares
TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.
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