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

Shares of TriCo Bancshares (NASDAQ:TCBK) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $54.60.

TCBK has been the topic of several recent research reports. Piper Sandler raised their target price 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. Zacks Research cut shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in shares of TriCo Bancshares during the fourth quarter worth $1,126,000. JPMorgan Chase & Co. grew its stake in shares of TriCo Bancshares by 13.4% in the third quarter. JPMorgan Chase & Co. now owns 361,435 shares of the financial services provider’s stock worth $16,051,000 after purchasing an additional 42,657 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of TriCo Bancshares by 136.8% in the fourth quarter. SG Americas Securities LLC now owns 20,389 shares of the financial services provider’s stock worth $966,000 after purchasing an additional 11,780 shares during the last quarter. Deprince Race & Zollo Inc. grew its stake in shares of TriCo Bancshares by 15.2% in the fourth quarter. Deprince Race & Zollo Inc. now owns 87,111 shares of the financial services provider’s stock worth $4,126,000 after purchasing an additional 11,480 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of TriCo Bancshares by 14.1% in the fourth quarter. UBS Group AG now owns 92,320 shares of the financial services provider’s stock worth $4,373,000 after purchasing an additional 11,392 shares during the last quarter. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Stock Up 1.1%

Shares of TCBK opened at $53.85 on Friday. TriCo Bancshares has a 12 month low of $39.69 and a 12 month high of $54.17. The firm’s 50 day moving average is $50.90 and its 200-day moving average is $49.65. The stock has a market capitalization of $1.72 billion, a PE ratio of 13.63 and a beta of 0.60. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Monday, March 2nd. The financial services provider reported $1.03 EPS for the quarter. TriCo Bancshares had a net margin of 23.71% and a return on equity of 9.87%. The company had revenue of $111.21 million for the quarter. Equities research analysts forecast that TriCo Bancshares will post 4.22 EPS for the current year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, June 5th. TriCo Bancshares’s dividend payout ratio (DPR) is 36.46%.

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.