TriCo Bancshares (NASDAQ:TCBK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of TriCo Bancshares (NASDAQ:TCBK) have been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $53.80.

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of TriCo Bancshares from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Monday, January 26th. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. DA Davidson lifted their price target on shares of TriCo Bancshares from $51.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Piper Sandler lifted their target price on shares of TriCo Bancshares from $57.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Finally, Stephens lifted their target price on shares of TriCo Bancshares from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position 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 period. Federated Hermes Inc. boosted its position in TriCo Bancshares by 17.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock worth $78,000 after buying an additional 290 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in TriCo Bancshares by 1.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 30,254 shares of the financial services provider’s stock worth $1,433,000 after buying an additional 329 shares during the period. Sweeney & Michel LLC boosted its position in TriCo Bancshares by 0.3% during the 1st quarter. Sweeney & Michel LLC now owns 126,082 shares of the financial services provider’s stock worth $6,318,000 after buying an additional 347 shares during the period. Finally, Larson Financial Group LLC boosted its position in TriCo Bancshares by 337.5% during the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after buying an additional 459 shares during the period. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Price Performance

TCBK stock opened at $49.48 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. TriCo Bancshares has a 12 month low of $36.26 and a 12 month high of $53.18. The firm has a market cap of $1.59 billion, a P/E ratio of 13.34 and a beta of 0.59. The company’s 50-day moving average price is $48.77 and its two-hundred day moving average price is $47.53.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.02. The company had revenue of $109.40 million for the quarter, compared to analyst estimates of $108.19 million. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.43%. On average, analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a dividend of $0.36 per share. The ex-dividend date was Friday, March 6th. This represents a $1.44 annualized dividend and a yield of 2.9%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 38.81%.

About TriCo Bancshares

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.