TriCo Bancshares (NASDAQ:TCBK) Receives $48.60 Consensus Target Price from Analysts

TriCo Bancshares (NASDAQ:TCBK) has been given a consensus rating of “Hold” by the seven research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $48.60.

Several equities analysts have recently commented on TCBK shares. Raymond James Financial restated an “outperform” rating and set a $46.00 price target (up from $45.00) on shares of TriCo Bancshares in a report on Friday, October 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of TriCo Bancshares in a research report on Monday, December 29th. Wall Street Zen upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Keefe, Bruyette & Woods raised their price target on TriCo Bancshares from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. Finally, Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th.

Hedge Funds Weigh In On TriCo Bancshares

Several hedge funds have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV acquired a new stake in shares of TriCo Bancshares in the third quarter worth about $6,972,000. ProShare Advisors LLC raised its stake in shares of TriCo Bancshares by 2,137.5% in the 2nd quarter. ProShare Advisors LLC now owns 154,969 shares of the financial services provider’s stock valued at $6,275,000 after acquiring an additional 148,043 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of TriCo Bancshares by 7.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,725,857 shares of the financial services provider’s stock valued at $69,880,000 after acquiring an additional 126,571 shares in the last quarter. Allworth Financial LP lifted its holdings in TriCo Bancshares by 1,339.5% in the 2nd quarter. Allworth Financial LP now owns 119,393 shares of the financial services provider’s stock worth $4,834,000 after purchasing an additional 111,099 shares during the last quarter. Finally, Millennium Management LLC boosted its position in TriCo Bancshares by 292.7% during the third quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock worth $6,009,000 after purchasing an additional 100,858 shares during the period. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Price Performance

Shares of TCBK opened at $48.88 on Friday. The business’s 50-day moving average is $47.45 and its 200-day moving average is $44.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 13.73 and a beta of 0.63. TriCo Bancshares has a fifty-two week low of $35.20 and a fifty-two week high of $50.60.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.12. The firm had revenue of $107.56 million for the quarter, compared to the consensus estimate of $107.08 million. TriCo Bancshares had a net margin of 21.87% and a return on equity of 9.27%. Equities research analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, December 5th. TriCo Bancshares’s payout ratio is presently 40.45%.

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.