Brokerages Set TriCo Bancshares (NASDAQ:TCBK) PT at $47.80

TriCo Bancshares (NASDAQ:TCBK) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $47.80.

Several analysts recently commented on the stock. Raymond James Financial dropped their price target on shares of TriCo Bancshares from $48.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Stephens reaffirmed an “overweight” rating and issued a $47.00 price target on shares of TriCo Bancshares in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut their price objective on TriCo Bancshares from $48.00 to $46.00 and set a “market perform” rating for the company in a research report on Monday, April 28th.

TriCo Bancshares Stock Up 0.7%

TriCo Bancshares stock opened at $38.78 on Monday. The business’s 50-day moving average price is $39.33 and its 200 day moving average price is $41.81. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 11.31 and a beta of 0.61. TriCo Bancshares has a 52 week low of $35.20 and a 52 week high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $98.62 million for the quarter, compared to analysts’ expectations of $99.59 million. TriCo Bancshares had a net margin of 21.41% and a return on equity of 9.28%. As a group, sell-side analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.32 annualized dividend and a yield of 3.40%. TriCo Bancshares’s payout ratio is 38.48%.

Hedge Funds Weigh In On TriCo Bancshares

A number of hedge funds have recently modified their holdings of TCBK. Rhumbline Advisers boosted its stake in TriCo Bancshares by 1.1% during the fourth quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider’s stock worth $2,580,000 after buying an additional 652 shares during the period. Allworth Financial LP grew its stake in shares of TriCo Bancshares by 21.7% in the fourth quarter. Allworth Financial LP now owns 7,937 shares of the financial services provider’s stock valued at $341,000 after buying an additional 1,413 shares in the last quarter. Handelsbanken Fonder AB acquired a new position in TriCo Bancshares during the 4th quarter worth about $218,000. Bank of New York Mellon Corp boosted its holdings in TriCo Bancshares by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 169,294 shares of the financial services provider’s stock valued at $7,398,000 after acquiring an additional 2,875 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in TriCo Bancshares in the 4th quarter valued at about $1,818,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

About TriCo Bancshares

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.