TriCo Bancshares (NASDAQ:TCBK) Stock Has Consensus Price Target of $55.30 According to Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK) have been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $55.30.

Several research firms have commented on TCBK. Stephens raised TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th. Raymond James Financial downgraded TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Piper Sandler decreased their price objective on TriCo Bancshares from $63.00 to $56.50 and set a “neutral” rating on the stock in a report on Thursday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of TriCo Bancshares in a research report on Wednesday, July 8th. Finally, DA Davidson cut their target price on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, July 27th.

TriCo Bancshares Stock Performance

NASDAQ:TCBK opened at $52.11 on Friday. The firm’s 50-day moving average is $54.63 and its 200-day moving average is $52.73. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 12.50 and a beta of 0.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. TriCo Bancshares has a 52-week low of $40.44 and a 52-week high of $61.71.

TriCo Bancshares (NASDAQ:TCBK) last released its 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. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. The business had revenue of $111.88 million during the quarter, compared to analysts’ expectations of $110.99 million. Equities research analysts anticipate that TriCo Bancshares will post 4.28 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, September 11th. This represents a $1.44 dividend on an annualized basis and a yield of 2.8%. TriCo Bancshares’s payout ratio is currently 34.53%.

Hedge Funds Weigh In On TriCo Bancshares

Hedge funds have recently made changes to their positions in the business. Sweeney & Michel LLC grew its holdings in shares of TriCo Bancshares by 0.3% in the 1st quarter. Sweeney & Michel LLC now owns 126,082 shares of the financial services provider’s stock worth $6,318,000 after purchasing an additional 347 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of TriCo Bancshares during the 2nd quarter worth about $26,000. Swiss National Bank lifted its holdings in TriCo Bancshares by 1.0% during the 1st quarter. Swiss National Bank now owns 61,100 shares of the financial services provider’s stock valued at $2,905,000 after purchasing an additional 600 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in TriCo Bancshares during the 2nd quarter valued at about $36,000. Finally, Parallel Advisors LLC lifted its holdings in TriCo Bancshares by 88.5% during the 1st 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 during the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

About TriCo Bancshares

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

Tri Counties Bank offers deposit accounts, consumer and business loans, residential and commercial real estate financing, cash-management services, online and mobile banking, and other treasury services. The bank also provides wealth management, investment and fiduciary services through its affiliated offerings.

Founded in 1975, Tri Counties Bank has developed a community-banking presence across Northern and Central California.