Analysts Set TriCo Bancshares (NASDAQ:TCBK) PT at $50.75

TriCo Bancshares (NASDAQ:TCBK) has been assigned an average recommendation of “Hold” from the five analysts that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $50.75.

Separately, Keefe, Bruyette & Woods reduced their price target on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 28th.

TriCo Bancshares Trading Down 2.3 %

TCBK opened at $36.29 on Wednesday. The stock has a market capitalization of $1.20 billion, a PE ratio of 10.49 and a beta of 0.55. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50 day moving average price is $42.40 and its 200 day moving average price is $43.93.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. As a group, equities research analysts expect that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.32 annualized dividend and a dividend yield of 3.64%. TriCo Bancshares’s dividend payout ratio (DPR) is 38.15%.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of TriCo Bancshares in the 3rd quarter worth $28,000. Sterling Capital Management LLC boosted its holdings in TriCo Bancshares by 800.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 896 shares in the last quarter. Aquatic Capital Management LLC lifted its holdings in shares of TriCo Bancshares by 129.5% in the 4th quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,295 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of TriCo Bancshares in the third quarter valued at about $114,000. Finally, Public Employees Retirement System of Ohio lifted its position in shares of TriCo Bancshares by 591.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 2,524 shares during the period. 59.11% of the stock is owned by institutional investors and hedge funds.

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.