TriCo Bancshares (NASDAQ:TCBK) Given Average Recommendation of “Hold” by Analysts

TriCo Bancshares (NASDAQ:TCBK) has been given an average rating of “Hold” by the seven brokerages that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $56.40.

Several research analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of TriCo Bancshares in a research report on Wednesday, July 8th. Stephens lowered TriCo Bancshares from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a research note on Wednesday, July 15th. Raymond James Financial cut TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Finally, DA Davidson increased their price target on TriCo Bancshares from $55.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th.

Institutional Investors Weigh In On TriCo Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. North Reef Capital Management LP bought a new stake in shares of TriCo Bancshares in the 4th quarter worth about $22,994,000. Mercer Global Advisors Inc. ADV purchased a new position in TriCo Bancshares during the 3rd quarter worth $6,972,000. Millennium Management LLC raised its holdings 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 valued at $6,009,000 after acquiring an additional 100,858 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of TriCo Bancshares in the 1st quarter valued at about $4,527,000. Finally, FJ Capital Management LLC purchased a new stake in TriCo Bancshares during the fourth quarter worth $4,381,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

Shares of NASDAQ:TCBK opened at $59.80 on Tuesday. TriCo Bancshares has a 52 week low of $39.84 and a 52 week high of $61.71. The stock has a market capitalization of $1.91 billion, a P/E ratio of 15.14 and a beta of 0.60. The firm has a fifty day simple moving average of $52.66 and a two-hundred day simple moving average of $50.39. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.04.

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

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, June 5th. TriCo Bancshares’s payout ratio is presently 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.