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

Shares of TriCo Bancshares (NASDAQ:TCBK) have earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Three equities research 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 brokers that have issued a report on the stock in the last year is $53.80.

Several research analysts have commented on TCBK shares. Piper Sandler boosted their price objective on shares of TriCo Bancshares from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Weiss Ratings raised TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. DA Davidson upped their price objective on TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Finally, Stephens raised their price objective on TriCo Bancshares from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, January 26th.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased 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 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 approximately $28,000. Farther Finance Advisors LLC boosted its position in TriCo Bancshares by 40.3% in the fourth quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after buying an additional 211 shares in the last quarter. Abound Financial LLC bought a new stake in shares of TriCo Bancshares during the fourth quarter worth $43,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of TriCo Bancshares during the third quarter worth $58,000. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Price Performance

TCBK stock opened at $46.08 on Wednesday. The company’s 50-day moving average price is $49.25 and its two-hundred day moving average price is $47.11. The firm has a market cap of $1.48 billion, a P/E ratio of 12.42 and a beta of 0.63. 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 $35.20 and a 12 month high of $53.18.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. The company had revenue of $109.40 million during the quarter, compared to the consensus estimate 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 business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.1%. TriCo Bancshares’s dividend payout ratio is 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.