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

Shares of TriCo Bancshares (NASDAQ:TCBK) have received an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $53.80.

Several analysts have recently weighed in on TCBK shares. DA Davidson raised their price objective on shares of TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Stephens boosted their target price on TriCo Bancshares from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Piper Sandler increased their price target on TriCo Bancshares from $57.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Weiss Ratings raised TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on 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 Down 0.9%

TCBK opened at $46.65 on Wednesday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 12.57 and a beta of 0.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50-day simple moving average is $49.37 and its 200-day simple moving average is $47.10. TriCo Bancshares has a twelve month low of $35.20 and a twelve month high of $53.18.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.02. The firm had revenue of $109.40 million during the quarter, compared to the consensus estimate of $108.19 million. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.43%. Equities research analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, March 6th. TriCo Bancshares’s payout ratio is currently 38.81%.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its position in TriCo Bancshares by 337.5% in the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 459 shares in the last quarter. Danske Bank A S bought a new position in TriCo Bancshares in the 4th quarter worth approximately $28,000. Farther Finance Advisors LLC lifted its holdings in TriCo Bancshares by 40.3% during the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after buying an additional 211 shares in the last quarter. Abound Financial LLC bought a new position in TriCo Bancshares in the 4th quarter valued at $43,000. Finally, State of Alaska Department of Revenue bought a new position in TriCo Bancshares in the 3rd quarter valued at $58,000. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Company Profile

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.