TriCo Bancshares (NASDAQ:TCBK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

TriCo Bancshares (NASDAQ:TCBK) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $48.20.

A number of analysts recently weighed in on TCBK shares. Stephens reduced their target price on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Piper Sandler reduced their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, DA Davidson cut shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their target price for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th.

TriCo Bancshares Price Performance

NASDAQ TCBK opened at $44.04 on Friday. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $1.45 billion, a PE ratio of 13.11 and a beta of 0.58. The company’s 50 day simple moving average is $45.54 and its 200 day simple moving average is $44.33.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. As a group, equities research analysts forecast that TriCo Bancshares will post 3.38 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s dividend payout ratio is 39.29%.

Insider Buying and Selling

In related news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total value of $252,297.00. Following the completion of the transaction, the director now owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. This trade represents a 45.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.64% of the company’s stock.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCBK. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of TriCo Bancshares during the third quarter worth $28,000. Point72 DIFC Ltd purchased a new stake in shares of TriCo Bancshares during the 3rd quarter worth about $114,000. Quantbot Technologies LP acquired a new stake in shares of TriCo Bancshares during the 3rd quarter valued at about $129,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TriCo Bancshares in the 3rd quarter valued at approximately $210,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in TriCo Bancshares in the third quarter worth approximately $259,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

About TriCo Bancshares

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.