TriCo Bancshares (NASDAQ:TCBK) Receives Average Rating of “Hold” from Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK) have received a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $53.80.

Several equities analysts recently weighed in on TCBK shares. Piper Sandler increased their target price on TriCo Bancshares from $57.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TriCo Bancshares in a report on Monday, December 29th. Wall Street Zen upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. DA Davidson upped their price target on shares of TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $46.00 price target (up previously from $45.00) on shares of TriCo Bancshares in a research note on Friday, October 24th.

Institutional Investors Weigh In On TriCo Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCBK. AQR Capital Management LLC raised its holdings in shares of TriCo Bancshares by 28.9% in the 1st quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider’s stock worth $1,307,000 after purchasing an additional 7,334 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in TriCo Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock valued at $760,000 after buying an additional 820 shares during the period. Goldman Sachs Group Inc. raised its holdings in TriCo Bancshares by 4.4% in the first quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock valued at $25,727,000 after buying an additional 27,193 shares during the period. Empowered Funds LLC lifted its position in TriCo Bancshares by 8.4% during the first quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock valued at $2,047,000 after buying an additional 3,951 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in TriCo Bancshares by 280.1% during the first quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock worth $1,977,000 after buying an additional 36,443 shares during the period. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Stock Performance

Shares of TCBK opened at $51.04 on Tuesday. TriCo Bancshares has a 1 year low of $35.20 and a 1 year high of $52.05. The company’s 50 day simple moving average is $48.87 and its 200 day simple moving average is $45.63. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 13.76 and a beta of 0.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $1.01 by $0.02. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.53%. The firm had revenue of $109.40 million during the quarter, compared to analysts’ expectations of $108.19 million. On average, sell-side analysts predict that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.36 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.8%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 38.81%.

TriCo Bancshares Company Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.