TriCo Bancshares (NASDAQ:TCBK) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a sell rating to a hold rating in a research note released on Tuesday morning.

A number of other research firms have also weighed in on TCBK. Keefe, Bruyette & Woods lowered their price target on shares of TriCo Bancshares from $44.00 to $42.00 and set a market perform rating for the company in a report on Friday, January 26th. Raymond James raised their price objective on shares of TriCo Bancshares from $36.00 to $40.00 and gave the stock an outperform rating in a report on Friday, January 26th. Finally, DA Davidson decreased their price objective on shares of TriCo Bancshares from $49.00 to $45.00 and set a buy rating for the company in a report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, TriCo Bancshares currently has a consensus rating of Moderate Buy and an average price target of $42.00.

TriCo Bancshares Price Performance

TCBK opened at $34.77 on Tuesday. The company has a fifty day simple moving average of $34.27 and a 200 day simple moving average of $36.21. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 10.60 and a beta of 0.53. TriCo Bancshares has a twelve month low of $28.66 and a twelve month high of $45.84. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $131.19 million during the quarter, compared to analyst estimates of $99.50 million. TriCo Bancshares had a net margin of 21.25% and a return on equity of 9.87%. Equities research analysts expect that TriCo Bancshares will post 3.23 EPS for the current fiscal year.

TriCo Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.33 dividend. This is an increase from TriCo Bancshares’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Thursday, March 7th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 40.24%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. American Century Companies Inc. lifted its position in shares of TriCo Bancshares by 30.2% in the 3rd quarter. American Century Companies Inc. now owns 151,451 shares of the financial services provider’s stock worth $4,851,000 after buying an additional 35,159 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of TriCo Bancshares by 37.6% in the 3rd quarter. Schroder Investment Management Group now owns 282,820 shares of the financial services provider’s stock worth $9,059,000 after buying an additional 77,221 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of TriCo Bancshares in the 3rd quarter worth about $281,000. Mutual of America Capital Management LLC lifted its position in shares of TriCo Bancshares by 15.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 117,987 shares of the financial services provider’s stock worth $5,070,000 after buying an additional 16,091 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of TriCo Bancshares by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,219 shares of the financial services provider’s stock worth $10,513,000 after buying an additional 15,757 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors.

TriCo Bancshares Company Profile

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.