TriCo Bancshares (NASDAQ:TCBK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

TriCo Bancshares (NASDAQ:TCBK) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $48.60.

Several research firms recently commented on TCBK. Keefe, Bruyette & Woods upped their price objective on TriCo Bancshares from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. Raymond James Financial restated an “outperform” rating and issued a $46.00 target price (up from $45.00) on shares of TriCo Bancshares in a research note on Friday, October 24th. Wall Street Zen upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings lowered TriCo Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 1st. Finally, Zacks Research upgraded TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of TriCo Bancshares by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,839,668 shares of the financial services provider’s stock valued at $73,532,000 after purchasing an additional 27,348 shares in the last quarter. Assetmark Inc. bought a new position in TriCo Bancshares in the 2nd quarter worth about $396,000. Allworth Financial LP boosted its stake in TriCo Bancshares by 1,339.5% in the 2nd quarter. Allworth Financial LP now owns 119,393 shares of the financial services provider’s stock worth $4,834,000 after purchasing an additional 111,099 shares during the period. Barnes Wealth Management Group Inc purchased a new position in TriCo Bancshares during the 1st quarter valued at about $303,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of TriCo Bancshares by 64.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,642 shares of the financial services provider’s stock valued at $1,904,000 after buying an additional 18,646 shares during the period. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

TriCo Bancshares Price Performance

TCBK opened at $47.82 on Monday. TriCo Bancshares has a fifty-two week low of $35.20 and a fifty-two week high of $49.71. The firm has a 50-day moving average of $44.85 and a 200 day moving average of $43.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $1.55 billion, a P/E ratio of 13.43 and a beta of 0.64.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.12. TriCo Bancshares had a net margin of 21.87% and a return on equity of 9.27%. The firm had revenue of $107.56 million for the quarter, compared to analysts’ expectations of $107.08 million. On average, research analysts expect that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 3.0%. TriCo Bancshares’s payout ratio is 40.45%.

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.