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

Shares of TriCo Bancshares (NASDAQ:TCBK) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $54.60.

Several brokerages recently issued reports on TCBK. Piper Sandler raised their price target on TriCo Bancshares from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th.

Institutional Trading of TriCo Bancshares

Several hedge funds have recently made changes to their positions in TCBK. Parallel Advisors LLC increased its position in TriCo Bancshares by 88.5% in the 1st quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 676 shares during the period. Bank of America Corp DE increased its position in TriCo Bancshares by 39.4% in the 1st quarter. Bank of America Corp DE now owns 86,742 shares of the financial services provider’s stock valued at $4,124,000 after acquiring an additional 24,500 shares during the period. California State Teachers Retirement System increased its position in TriCo Bancshares by 13.3% in the 1st quarter. California State Teachers Retirement System now owns 32,720 shares of the financial services provider’s stock valued at $1,556,000 after acquiring an additional 3,837 shares during the period. Quantinno Capital Management LP increased its position in TriCo Bancshares by 22.8% in the 1st quarter. Quantinno Capital Management LP now owns 10,836 shares of the financial services provider’s stock valued at $515,000 after acquiring an additional 2,014 shares during the period. Finally, Jacobs Asset Management LLC increased its position in TriCo Bancshares by 11.1% in the 1st quarter. Jacobs Asset Management LLC now owns 75,000 shares of the financial services provider’s stock valued at $3,566,000 after acquiring an additional 7,500 shares during the period. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Trading Up 0.6%

NASDAQ:TCBK opened at $53.55 on Friday. 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’s 50 day moving average is $50.68 and its two-hundred day moving average is $49.55. TriCo Bancshares has a 52 week low of $39.69 and a 52 week high of $53.60. The company has a market cap of $1.71 billion, a PE ratio of 13.56 and a beta of 0.60.

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

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. TriCo Bancshares’s dividend payout ratio (DPR) is 36.46%.

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.