Several other research analysts have also recently commented on TCBK. Piper Sandler lowered their price target on shares of TriCo Bancshares from $32.00 to $31.00 and set a neutral rating for the company in a report on Monday, May 4th. Zacks Investment Research cut shares of TriCo Bancshares from a hold rating to a sell rating in a research report on Friday, May 15th. BidaskClub raised TriCo Bancshares from a strong sell rating to a sell rating in a report on Saturday, June 6th. Finally, Raymond James raised their price target on TriCo Bancshares from $30.00 to $35.00 and gave the company an outperform rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $37.50.
Shares of NASDAQ TCBK opened at $29.46 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $875.85 million, a price-to-earnings ratio of 10.56 and a beta of 0.77. The stock’s 50-day moving average is $28.16 and its two-hundred day moving average is $32.59. TriCo Bancshares has a 1-year low of $23.05 and a 1-year high of $41.42.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.05). TriCo Bancshares had a return on equity of 9.64% and a net margin of 26.28%. The company had revenue of $75.01 million for the quarter, compared to analyst estimates of $75.71 million. Equities research analysts anticipate that TriCo Bancshares will post 2.27 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.88 dividend on an annualized basis and a yield of 2.99%. TriCo Bancshares’s payout ratio is currently 29.33%.
Several large investors have recently modified their holdings of TCBK. BlackRock Inc. grew its holdings in shares of TriCo Bancshares by 8.1% during the first quarter. BlackRock Inc. now owns 2,164,741 shares of the financial services provider’s stock worth $64,553,000 after purchasing an additional 161,894 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of TriCo Bancshares by 21.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,384,520 shares of the financial services provider’s stock valued at $56,502,000 after purchasing an additional 246,895 shares during the period. State Street Corp grew its stake in TriCo Bancshares by 5.2% during the 4th quarter. State Street Corp now owns 590,449 shares of the financial services provider’s stock worth $24,096,000 after buying an additional 29,009 shares during the last quarter. Investment Counselors of Maryland LLC grew its stake in TriCo Bancshares by 0.3% during the 1st quarter. Investment Counselors of Maryland LLC now owns 521,681 shares of the financial services provider’s stock worth $15,557,000 after buying an additional 1,483 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in TriCo Bancshares by 8.7% during the first quarter. Geode Capital Management LLC now owns 410,856 shares of the financial services provider’s stock worth $12,251,000 after buying an additional 32,878 shares during the period. Institutional investors and hedge funds own 64.26% of the company’s stock.
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. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.
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