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

TriCo Bancshares (NASDAQ:TCBK) has received a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $49.80.

TCBK has been the topic of several analyst reports. Stephens lifted their price objective on TriCo Bancshares from $43.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Piper Sandler lifted their price target on TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $48.00 price objective (up previously from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a report on Friday, July 26th. Finally, DA Davidson upped their price target on shares of TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a report on Monday, July 29th.

Insider Activity at TriCo Bancshares

In other news, Director Cory W. Giese sold 3,465 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $43.11, for a total value of $149,376.15. Following the completion of the sale, the director now directly owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 directly owns 3,000 shares in the company, valued at approximately $135,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cory W. Giese sold 3,465 shares of the business’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 sale, the director now directly owns 11,228 shares in the company, valued at approximately $484,039.08. The disclosure for this sale can be found here. 4.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriCo Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its stake in shares of TriCo Bancshares by 470.9% in the 4th quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock worth $40,000 after buying an additional 777 shares during the last quarter. SG Americas Securities LLC raised its stake in TriCo Bancshares by 8.2% during the first quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock valued at $139,000 after buying an additional 287 shares during the last quarter. ProShare Advisors LLC boosted its holdings in TriCo Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 439 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of TriCo Bancshares in the first quarter worth $227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of TriCo Bancshares by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 758 shares during the last quarter. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Up 0.7 %

Shares of NASDAQ TCBK opened at $43.73 on Friday. The stock has a market capitalization of $1.45 billion, a P/E ratio of 13.33 and a beta of 0.54. TriCo Bancshares has a one year low of $29.38 and a one year high of $48.80. The firm’s 50 day simple moving average is $43.75 and its two-hundred day simple moving average is $38.82. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The company had revenue of $97.86 million for the quarter, compared to analyst estimates of $98.55 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%. As a group, analysts expect that TriCo Bancshares will post 3.3 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.02%. TriCo Bancshares’s dividend payout ratio is currently 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.