DA Davidson restated their neutral rating on shares of TriCo Bancshares (NASDAQ:TCBK – Free Report) in a research report sent to investors on Tuesday,Benzinga reports. DA Davidson currently has a $55.00 target price on the financial services provider’s stock.
Several other research firms have also commented on TCBK. Raymond James Financial lowered TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Piper Sandler downgraded TriCo Bancshares from a “neutral” rating to a “hold” rating in a report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a report on Friday, October 2nd. Finally, Stephens upgraded TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, TriCo Bancshares has an average rating of “Hold” and an average price target of $55.62.
Get Our Latest Report on TriCo Bancshares
TriCo Bancshares Price Performance
NASDAQ:TCBK opened at $53.48 on Tuesday. TriCo Bancshares has a one year low of $43.22 and a one year high of $61.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 12.41 and a beta of 0.66. The firm’s fifty day moving average is $52.91 and its two-hundred day moving average is $51.93.
TriCo Bancshares (NASDAQ:TCBK – Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.09. The company had revenue of $116.71 million for the quarter, compared to the consensus estimate of $114.63 million. TriCo Bancshares had a return on equity of 10.47% and a net margin of 25.10%. Research analysts expect that TriCo Bancshares will post 4.39 EPS for the current year.
TriCo Bancshares Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, November 16th. TriCo Bancshares’s dividend payout ratio is presently 33.41%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of TriCo Bancshares in the second quarter worth approximately $137,197,000. Dimensional Fund Advisors LP raised its stake in TriCo Bancshares by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,696,463 shares of the financial services provider’s stock valued at $80,650,000 after purchasing an additional 11,298 shares during the last quarter. Davis Asset Management L.P. acquired a new position in TriCo Bancshares in the 2nd quarter valued at $56,376,000. The Manufacturers Life Insurance Company acquired a new position in TriCo Bancshares in the 2nd quarter valued at $22,526,000. Finally, Heartland Advisors Inc. purchased a new position in TriCo Bancshares in the 2nd quarter valued at $13,462,000. 59.11% of the stock is owned by institutional investors and hedge funds.
About TriCo Bancshares
TriCo Bancshares (NASDAQ: TCBK) is a bank holding company headquartered in Chico, California. Through its principal subsidiary, Tri Counties Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and public entities.
Tri Counties Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and other financial services.
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