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

TriCo Bancshares (NASDAQ:TCBK) has earned an average rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $54.60.

Several analysts have issued reports on TCBK shares. Keefe, Bruyette & Woods increased their target price on shares of TriCo Bancshares from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Monday, January 26th. Zacks Research upgraded shares of TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Stephens increased their price target on shares of TriCo Bancshares from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Piper Sandler increased their price target on shares of TriCo Bancshares from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Weiss Ratings raised shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th.

Hedge Funds Weigh In On TriCo Bancshares

Institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased its holdings in shares of TriCo Bancshares by 337.5% in the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after buying an additional 459 shares during the last quarter. Danske Bank A S bought a new position in shares of TriCo Bancshares in the 4th quarter worth $28,000. Farther Finance Advisors LLC increased its holdings in shares of TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after buying an additional 211 shares during the last quarter. Abound Financial LLC bought a new position in shares of TriCo Bancshares during the 4th quarter valued at $43,000. Finally, State of Alaska Department of Revenue bought a new position in shares of TriCo Bancshares during the 3rd quarter valued at $58,000. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

NASDAQ TCBK opened at $49.28 on Thursday. TriCo Bancshares has a 1 year low of $36.32 and a 1 year high of $53.18. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $1.57 billion, a PE ratio of 12.48 and a beta of 0.61. The company’s 50 day simple moving average is $48.77 and its two-hundred day simple moving average is $48.44.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Monday, March 2nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter. TriCo Bancshares had a net margin of 23.71% and a return on equity of 9.87%. The business had revenue of $111.21 million for the quarter. Analysts predict that TriCo Bancshares will post 4.22 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently declared 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 2.9%. TriCo Bancshares’s dividend payout ratio is presently 36.46%.

TriCo Bancshares Company Profile

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.