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

TriCo Bancshares (NASDAQ:TCBK) has received an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $48.20.

TCBK has been the topic of several recent analyst reports. Stephens reduced their price objective on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Piper Sandler reduced 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. Finally, DA Davidson downgraded TriCo Bancshares from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th.

TriCo Bancshares Price Performance

TCBK stock opened at $44.49 on Monday. 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 1 year low of $31.73 and a 1 year high of $51.06. The stock’s 50 day moving average price is $46.43 and its 200 day moving average price is $43.58. The firm has a market cap of $1.47 billion, a P/E ratio of 13.24 and a beta of 0.56.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The firm had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million. On average, sell-side analysts expect that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.33 per share. The ex-dividend date was Friday, December 6th. This represents a $1.32 annualized dividend and a dividend yield of 2.97%. TriCo Bancshares’s dividend payout ratio is presently 39.29%.

Insider Transactions at TriCo Bancshares

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total transaction of $252,297.00. Following the completion of the sale, the director now directly owns 6,128 shares in the company, valued at $303,152.16. The trade was a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of TriCo Bancshares in the third quarter valued at about $28,000. Point72 DIFC Ltd purchased a new position in TriCo Bancshares in the 3rd quarter worth approximately $114,000. Quantbot Technologies LP acquired a new stake in TriCo Bancshares in the third quarter valued at approximately $129,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of TriCo Bancshares during the third quarter valued at approximately $210,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of TriCo Bancshares during the third quarter worth $259,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

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.