TriCo Bancshares (NASDAQ:TCBK) Receives $48.20 Consensus Target Price from Analysts

TriCo Bancshares (NASDAQ:TCBK) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $48.20.

A number of research analysts have commented on the stock. Stephens cut their price target 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. DA Davidson downgraded TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their target price for the stock from $50.00 to $53.00 in a research report on Tuesday, November 12th. Finally, Piper Sandler decreased their price target on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of TCBK. Assenagon Asset Management S.A. boosted its stake in TriCo Bancshares by 839.2% in the third quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock worth $5,577,000 after purchasing an additional 116,838 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of TriCo Bancshares by 27.3% in 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 buying an additional 86,689 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in TriCo Bancshares by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock worth $59,471,000 after buying an additional 50,358 shares in the last quarter. Barclays PLC grew its holdings in TriCo Bancshares by 127.0% during the 3rd quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock worth $2,468,000 after acquiring an additional 32,379 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of TriCo Bancshares in the second quarter worth about $1,002,000. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK opened at $48.34 on Thursday. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 14.39 and a beta of 0.54. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. The business has a fifty day simple moving average of $44.78 and a 200 day simple moving average of $42.38. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

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 net margin of 21.12% and a return on equity of 9.45%. The company had revenue of $133.84 million during the quarter, compared to analysts’ expectations of $98.65 million. Sell-side analysts expect that TriCo Bancshares will post 3.38 EPS for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, December 6th. TriCo Bancshares’s payout ratio is currently 39.29%.

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.