TriCo Bancshares (NASDAQ:TCBK) Receives $54.60 Consensus PT from Brokerages

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

Several equities research analysts have issued reports on TCBK shares. Zacks Research upgraded shares of TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Piper Sandler lifted their target price on shares of TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th.

TriCo Bancshares Trading Down 2.8%

Shares of TriCo Bancshares stock opened at $49.25 on Monday. TriCo Bancshares has a 1 year low of $36.32 and a 1 year high of $53.18. The firm has a market cap of $1.57 billion, a PE ratio of 12.47 and a beta of 0.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.86. The company has a 50 day simple moving average of $49.65 and a two-hundred day simple moving average of $49.03.

TriCo Bancshares (NASDAQ:TCBK) last announced 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 during the quarter. Analysts expect that TriCo Bancshares will post 4.22 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, June 5th. This represents a $1.44 annualized dividend and a yield of 2.9%. TriCo Bancshares’s payout ratio is presently 36.46%.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds have recently made changes to their positions in TCBK. AQR Capital Management LLC lifted its holdings in shares of TriCo Bancshares by 28.9% in the 1st quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider’s stock worth $1,307,000 after acquiring an additional 7,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of TriCo Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 820 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of TriCo Bancshares by 4.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock worth $25,727,000 after acquiring an additional 27,193 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of TriCo Bancshares by 8.4% in the 1st quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock worth $2,047,000 after acquiring an additional 3,951 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of TriCo Bancshares by 280.1% in the 1st quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock worth $1,977,000 after acquiring an additional 36,443 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors.

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.