TriCo Bancshares (NASDAQ:TCBK) Receives $56.60 Consensus Target Price from Analysts

TriCo Bancshares (NASDAQ:TCBK) has been given a consensus rating of “Hold” by the seven research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $56.60.

A number of equities analysts recently weighed in on the stock. Zacks Research downgraded shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Stephens upgraded TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th. DA Davidson lowered their price objective on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Piper Sandler boosted their price objective on TriCo Bancshares from $61.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Raymond James Financial lowered TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th.

TriCo Bancshares Price Performance

Shares of TCBK opened at $53.53 on Wednesday. The company has a market capitalization of $1.71 billion, a PE ratio of 12.84 and a beta of 0.59. TriCo Bancshares has a 12 month low of $40.44 and a 12 month high of $61.71. The stock’s 50-day moving average price is $56.37 and its two-hundred day moving average price is $52.17. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.03. The company had revenue of $111.88 million during the quarter, compared to analysts’ expectations of $110.99 million. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%. On average, analysts anticipate that TriCo Bancshares will post 4.28 EPS for the current year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.44 annualized dividend and a yield of 2.7%. TriCo Bancshares’s payout ratio is 34.53%.

Hedge Funds Weigh In On TriCo Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new stake in shares of TriCo Bancshares in the 2nd quarter valued at $26,000. Larson Financial Group LLC boosted its stake in 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 acquiring an additional 459 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in TriCo Bancshares in the second quarter worth $36,000. Abound Financial LLC acquired a new stake in TriCo Bancshares in the fourth quarter worth $43,000. Finally, Parallel Advisors LLC increased its stake in TriCo Bancshares by 88.5% in the first quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 676 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors.

About TriCo Bancshares

TriCo Bancshares is a bank holding company headquartered in Chico, California. Its principal subsidiary, Tri Counties Bank, provides community banking services to individuals, businesses and public-sector customers.

The bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business loans, cash-management services and online and mobile banking. It also provides wealth management, trust and investment-related services through affiliated or specialized banking operations.

Tri Counties Bank was established in 1975 and serves communities across Northern and Central California through a network of branches and other delivery channels.