TriCo Bancshares (NASDAQ:TCBK) Given Average Rating of “Moderate Buy” by Analysts

TriCo Bancshares (NASDAQ:TCBK) has earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $49.80.

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $48.00 target price (up from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. DA Davidson increased their price objective on TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a report on Monday, July 29th. Stephens raised their target price on TriCo Bancshares from $43.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Finally, Piper Sandler lifted their price objective on TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, July 29th.

Insider Activity

In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the completion of the transaction, the director now owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $43.11, for a total value of $149,376.15. Following the sale, the director now directly owns 11,228 shares in the company, valued at approximately $484,039.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael W. Koehnen sold 1,400 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total transaction of $63,280.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at $135,600. The disclosure for this sale can be found here. 4.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On TriCo Bancshares

Institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC grew its stake in TriCo Bancshares by 470.9% in the 4th quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock worth $40,000 after buying an additional 777 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of TriCo Bancshares by 8.2% during the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 287 shares during the last quarter. ProShare Advisors LLC grew its position in TriCo Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 439 shares in the last quarter. Quantbot Technologies LP bought a new position in TriCo Bancshares in the first quarter valued at $227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in TriCo Bancshares by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 758 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors.

TriCo Bancshares Stock Up 0.7 %

Shares of NASDAQ:TCBK opened at $43.73 on Friday. TriCo Bancshares has a 1 year low of $29.38 and a 1 year high of $48.80. The company has a market capitalization of $1.45 billion, a PE ratio of 13.33 and a beta of 0.54. The business has a fifty day moving average price of $43.75 and a two-hundred day moving average price of $38.82. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%. The company had revenue of $97.86 million for the quarter, compared to the consensus estimate of $98.55 million. Analysts forecast that TriCo Bancshares will post 3.3 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.02%. TriCo Bancshares’s dividend payout ratio is currently 40.24%.

About TriCo Bancshares

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.