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

TriCo Bancshares (NASDAQ:TCBK) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $56.60.

TCBK has been the topic of several analyst reports. Raymond James Financial cut TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 14th. Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Piper Sandler increased their price target on TriCo Bancshares from $61.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research report on Wednesday, July 8th. Finally, Stephens lowered shares of TriCo Bancshares from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a research note on Wednesday, July 15th.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of TriCo Bancshares by 337.5% during the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 459 shares in the last quarter. Danske Bank A S acquired a new stake in TriCo Bancshares in the fourth quarter valued at $28,000. Farther Finance Advisors LLC lifted its holdings in TriCo Bancshares by 40.3% during the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after buying an additional 211 shares during the last quarter. Abound Financial LLC purchased a new stake in TriCo Bancshares during the 4th quarter worth about $43,000. Finally, Parallel Advisors LLC boosted its position in shares of TriCo Bancshares by 88.5% during the 1st quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 676 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Price Performance

Shares of TCBK opened at $57.57 on Tuesday. The company has a market cap of $1.84 billion, a P/E ratio of 13.81 and a beta of 0.60. TriCo Bancshares has a fifty-two week low of $39.84 and a fifty-two week high of $61.71. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average price is $53.60 and its 200 day moving average price is $50.79.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.27%. The company had revenue of $111.88 million during the quarter, compared to analysts’ expectations of $110.99 million. On average, research analysts forecast that TriCo Bancshares will post 4.22 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $0.36 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.5%. TriCo Bancshares’s payout ratio is currently 34.53%.

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.