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

Shares of TriCo Bancshares (NASDAQ:TCBK) have earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $53.80.

TCBK has been the subject of a number of research reports. Wall Street Zen upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Raymond James Financial reaffirmed an “outperform” rating and issued a $46.00 price objective (up previously from $45.00) on shares of TriCo Bancshares in a report on Friday, October 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TriCo Bancshares in a research note on Monday, December 29th. Stephens boosted their target price on shares of TriCo Bancshares from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Zacks Research downgraded shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV bought a new stake in TriCo Bancshares during the 3rd quarter worth approximately $6,972,000. ProShare Advisors LLC raised its holdings in TriCo Bancshares by 2,137.5% during the second quarter. ProShare Advisors LLC now owns 154,969 shares of the financial services provider’s stock valued at $6,275,000 after acquiring an additional 148,043 shares during the period. Franklin Resources Inc. lifted its position in shares of TriCo Bancshares by 7.9% in the second quarter. Franklin Resources Inc. now owns 1,725,857 shares of the financial services provider’s stock valued at $69,880,000 after acquiring an additional 126,571 shares in the last quarter. Allworth Financial LP boosted its stake in shares of TriCo Bancshares by 1,339.5% in the second quarter. Allworth Financial LP now owns 119,393 shares of the financial services provider’s stock worth $4,834,000 after acquiring an additional 111,099 shares during the period. Finally, Millennium Management LLC grew its position in shares of TriCo Bancshares by 292.7% during the third quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock worth $6,009,000 after purchasing an additional 100,858 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors.

TriCo Bancshares Price Performance

TCBK opened at $49.48 on Tuesday. The company’s 50-day simple moving average is $48.48 and its two-hundred day simple moving average is $45.37. 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 stock has a market capitalization of $1.61 billion, a P/E ratio of 13.34 and a beta of 0.63. TriCo Bancshares has a 52-week low of $35.20 and a 52-week high of $52.05.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. The firm had revenue of $109.40 million during the quarter, compared to analyst estimates of $108.19 million. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.53%. As a group, analysts predict that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.36 per share. The ex-dividend date was Friday, December 5th. This represents a $1.44 annualized dividend and a yield of 2.9%. TriCo Bancshares’s payout ratio is 38.81%.

About TriCo Bancshares

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.