TriCo Bancshares (NASDAQ:TCBK) Receives $48.20 Average Price Target from Brokerages

Shares of TriCo Bancshares (NASDAQ:TCBK) have earned an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $48.20.

A number of analysts have recently weighed in on TCBK shares. DA Davidson lowered TriCo Bancshares from a “buy” rating to a “neutral” rating and increased their price objective for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Piper Sandler cut their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, Stephens lowered their price objective on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th.

Insiders Place Their Bets

In other news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the completion of the transaction, the director now owns 6,128 shares in the company, valued at $303,152.16. This trade represents a 45.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TCBK. Rhumbline Advisers grew its position in shares of TriCo Bancshares by 1.8% in the 2nd quarter. Rhumbline Advisers now owns 63,125 shares of the financial services provider’s stock worth $2,498,000 after buying an additional 1,109 shares during the period. American Century Companies Inc. increased its stake in shares of TriCo Bancshares by 27.3% during the second quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock valued at $15,975,000 after purchasing an additional 86,689 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TriCo Bancshares by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after purchasing an additional 50,358 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of TriCo Bancshares by 8.9% in the 2nd quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider’s stock worth $9,333,000 after purchasing an additional 19,224 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of TriCo Bancshares by 18.3% in the 2nd quarter. Sei Investments Co. now owns 21,348 shares of the financial services provider’s stock worth $845,000 after buying an additional 3,303 shares during the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Trading Up 0.9 %

Shares of TCBK opened at $43.35 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $51.06. The firm has a 50 day moving average price of $45.71 and a 200-day moving average price of $44.35. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 12.90 and a beta of 0.58.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. The firm had revenue of $133.84 million for the quarter, compared to analysts’ expectations of $98.65 million. As a group, equities research analysts forecast that TriCo Bancshares will post 3.38 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s dividend payout ratio is currently 39.29%.

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.