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

TriCo Bancshares (NASDAQ:TCBK) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $53.80.

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Piper Sandler raised their target price on TriCo Bancshares from $57.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TriCo Bancshares in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of TriCo Bancshares from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, January 26th.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK opened at $50.47 on Friday. The firm’s 50-day moving average price is $49.54 and its 200-day moving average price is $46.47. TriCo Bancshares has a 52-week low of $35.20 and a 52-week high of $53.18. The company has a market cap of $1.64 billion, a PE ratio of 13.60 and a beta of 0.64. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04.

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

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC grew its holdings in TriCo Bancshares by 337.5% during the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 459 shares during the period. Danske Bank A S purchased a new position in shares of TriCo Bancshares during the 4th quarter valued at about $28,000. Farther Finance Advisors LLC grew its stake in shares of TriCo Bancshares by 40.3% during the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 211 shares during the period. Abound Financial LLC purchased a new stake in TriCo Bancshares in the 4th quarter worth approximately $43,000. Finally, State of Alaska Department of Revenue bought a new stake in TriCo Bancshares during the 3rd quarter worth approximately $58,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

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.