TriCo Bancshares (NASDAQ:TCBK) Receives Average Rating of “Moderate Buy” from Brokerages

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

A number of research analysts recently issued reports on the stock. DA Davidson raised their target price on shares of TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. Stephens boosted their price objective 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 report on Friday, July 26th. Finally, Piper Sandler upped their price target 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 at TriCo Bancshares

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

Hedge Funds Weigh In On TriCo Bancshares

Hedge funds have recently modified their holdings of the stock. Eagle Asset Management Inc. bought a new stake in TriCo Bancshares in the fourth quarter valued at $8,000,000. Sweeney & Michel LLC acquired a new stake in shares of TriCo Bancshares in the 1st quarter valued at $5,015,000. American Century Companies Inc. grew its holdings in shares of TriCo Bancshares by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock worth $15,975,000 after purchasing an additional 86,689 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of TriCo Bancshares by 6.0% in the 4th quarter. Franklin Resources Inc. now owns 1,526,919 shares of the financial services provider’s stock worth $65,612,000 after purchasing an additional 86,141 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of TriCo Bancshares by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,414,921 shares of the financial services provider’s stock worth $60,801,000 after purchasing an additional 64,815 shares in the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Trading Down 3.4 %

TriCo Bancshares stock opened at $43.56 on Friday. TriCo Bancshares has a one year low of $29.38 and a one year high of $48.80. The company’s fifty day moving average price is $43.94 and its two-hundred day moving average price is $38.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 13.28 and a beta of 0.54.

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

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s payout ratio is presently 40.24%.

TriCo Bancshares Company Profile

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.