TriCo Bancshares (NASDAQ:TCBK) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK) have been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $48.20.

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

TriCo Bancshares Stock Performance

Shares of TCBK opened at $42.70 on Friday. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 12.71 and a beta of 0.58. The business has a 50-day simple moving average of $46.02 and a two-hundred day simple moving average of $44.17.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping 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 company had revenue of $133.84 million during the quarter, compared to analyst estimates of $98.65 million. On average, analysts expect that TriCo Bancshares will post 3.38 EPS for the current year.

TriCo Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s payout ratio is currently 39.29%.

Insider Activity

In other news, Director Cory W. Giese sold 5,100 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the completion of the transaction, the director now directly owns 6,128 shares in the company, valued at approximately $303,152.16. This represents a 45.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.64% of the company’s stock.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its holdings in shares of TriCo Bancshares by 839.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock worth $5,577,000 after buying an additional 116,838 shares during the last quarter. American Century Companies Inc. raised its position in 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 during the period. Dimensional Fund Advisors LP boosted its holdings in shares of TriCo Bancshares by 3.5% in 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 purchasing an additional 50,358 shares during the period. Barclays PLC increased its position in shares of TriCo Bancshares by 127.0% during the 3rd quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock valued at $2,468,000 after purchasing an additional 32,379 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in TriCo Bancshares by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock worth $19,041,000 after buying an additional 25,817 shares during the last quarter. Hedge funds and other institutional investors 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.