Brokerages Set TriCo Bancshares (NASDAQ:TCBK) Target Price at $50.75

Shares of TriCo Bancshares (NASDAQ:TCBK) have been assigned a consensus recommendation of “Hold” from the five research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $50.75.

Separately, Keefe, Bruyette & Woods lowered their target price on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a report on Tuesday, January 28th.

Institutional Trading of TriCo Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of TCBK. Point72 Asia Singapore Pte. Ltd. acquired a new position in TriCo Bancshares during the 3rd quarter worth about $28,000. Sterling Capital Management LLC raised its position in shares of TriCo Bancshares by 800.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 896 shares during the last quarter. Aquatic Capital Management LLC lifted its stake in shares of TriCo Bancshares by 129.5% in the fourth quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,295 shares during the period. Point72 DIFC Ltd bought a new stake in TriCo Bancshares in the third quarter valued at approximately $114,000. Finally, Quantbot Technologies LP acquired a new stake in TriCo Bancshares during the 3rd quarter valued at approximately $129,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Trading Up 1.4 %

TCBK opened at $41.26 on Friday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 11.92 and a beta of 0.55. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $51.06. The company has a 50-day simple moving average of $43.24 and a 200 day simple moving average of $44.35.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. Analysts predict that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.20%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 38.15%.

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.