TriCo Bancshares (NASDAQ:TCBK) Price Target Cut to $50.00 by Analysts at Stephens

TriCo Bancshares (NASDAQ:TCBK) had its price target decreased by Stephens from $52.00 to $50.00 in a research report report published on Tuesday, Benzinga reports. Stephens currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on TCBK. DA Davidson lifted their target price on TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Piper Sandler decreased their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Janney Montgomery Scott reissued a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, TriCo Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $48.60.

TriCo Bancshares Stock Down 1.1 %

TCBK stock opened at $43.43 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.85. TriCo Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $48.80. The stock’s 50 day simple moving average is $43.32 and its 200 day simple moving average is $40.57. The company has a market cap of $1.44 billion, a P/E ratio of 13.24 and a beta of 0.54.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.60% and a net margin of 21.12%. The company had revenue of $133.84 million for the quarter, compared to analysts’ expectations of $98.65 million. On average, research analysts expect that TriCo Bancshares will post 3.34 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Friday, September 6th. TriCo Bancshares’s dividend payout ratio is 40.24%.

Insider Buying and Selling at TriCo Bancshares

In other news, Director Michael W. Koehnen sold 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total transaction of $63,280.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at $135,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $43.11, for a total transaction of $149,376.15. Following the sale, the director now directly owns 11,228 shares of the company’s stock, valued at $484,039.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at $135,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.64% of the company’s stock.

Institutional Trading of TriCo Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of TCBK. Principal Financial Group Inc. grew its stake in TriCo Bancshares by 36.2% in the 1st quarter. Principal Financial Group Inc. now owns 13,005 shares of the financial services provider’s stock valued at $478,000 after buying an additional 3,460 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of TriCo Bancshares by 200.3% in the first quarter. BNP Paribas Financial Markets now owns 24,384 shares of the financial services provider’s stock valued at $897,000 after purchasing an additional 16,263 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of TriCo Bancshares by 17.5% in the first quarter. Mutual of America Capital Management LLC now owns 138,616 shares of the financial services provider’s stock valued at $5,098,000 after purchasing an additional 20,629 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of TriCo Bancshares during the 1st quarter valued at $227,000. Finally, Empowered Funds LLC lifted its holdings in TriCo Bancshares by 135.1% during the 1st quarter. Empowered Funds LLC now owns 46,554 shares of the financial services provider’s stock worth $1,712,000 after purchasing an additional 26,751 shares in the last quarter. 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.