TriCo Bancshares (NASDAQ:TCBK) Receives Consensus Rating of “Moderate Buy” from Analysts

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

Several brokerages have commented on TCBK. Piper Sandler lowered their target price 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, October 28th. Stephens dropped their price objective on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, DA Davidson cut TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th.

TriCo Bancshares Trading Up 0.1 %

TCBK opened at $48.41 on Thursday. The firm has a 50 day simple moving average of $44.89 and a 200 day simple moving average of $42.51. TriCo Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $51.06. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 14.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86.

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

TriCo Bancshares Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.73%. TriCo Bancshares’s dividend payout ratio (DPR) is 39.29%.

Institutional Inflows and Outflows

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

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.