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

Shares of TriCo Bancshares (NASDAQ:TCBK) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $54.60.

Several research analysts recently weighed in on the stock. Weiss Ratings raised shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Piper Sandler raised their price target on TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, Zacks Research upgraded TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th.

TriCo Bancshares Stock Performance

Shares of TCBK opened at $50.80 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $49.46 and a two-hundred day simple moving average of $48.94. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 12.86 and a beta of 0.60. TriCo Bancshares has a 52 week low of $36.32 and a 52 week high of $53.18.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Monday, March 2nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter. TriCo Bancshares had a net margin of 23.71% and a return on equity of 9.87%. The company had revenue of $111.21 million during the quarter. On average, analysts expect that TriCo Bancshares will post 4.22 EPS for the current year.

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, June 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.8%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 36.46%.

Hedge Funds Weigh In On TriCo Bancshares

Institutional investors have recently bought and sold shares of the stock. North Reef Capital Management LP bought a new position in shares of TriCo Bancshares during the 4th quarter valued at about $22,994,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of TriCo Bancshares in the third quarter worth about $6,972,000. Millennium Management LLC lifted its position in shares of TriCo Bancshares by 292.7% in the third quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock worth $6,009,000 after buying an additional 100,858 shares in the last quarter. Rice Hall James & Associates LLC bought a new position in TriCo Bancshares during the first quarter valued at approximately $4,527,000. Finally, FJ Capital Management LLC bought a new position in TriCo Bancshares during the fourth quarter valued at approximately $4,381,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

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.