TriCo Bancshares (NASDAQ:TCBK) Receives Average Rating of "Moderate Buy" from Analysts

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) has earned an average rating of "Moderate Buy" from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $48.60.

Several equities research analysts have weighed in on the company. Janney Montgomery Scott reiterated a "neutral" rating on shares of TriCo Bancshares in a report on Friday, July 26th. DA Davidson increased their target price on shares of TriCo Bancshares from $41.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Stephens cut their target price on shares of TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Piper Sandler lowered their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $48.00 price objective (up from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th.

TriCo Bancshares Trading Up 0.5 %

TCBK traded up $0.20 on Friday, reaching $42.93. 53,464 shares of the company traded hands, compared to its average volume of 93,228. The company has a market cap of $1.42 billion, a P/E ratio of 12.78 and a beta of 0.54. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a one year low of $31.73 and a one year high of $48.80. The firm has a fifty day simple moving average of $43.30 and a two-hundred day simple moving average of $40.74.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. The firm had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.60%. As a group, equities research analysts expect that TriCo Bancshares will post 3.37 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.33 per share. The ex-dividend date was Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a yield of 3.07%. TriCo Bancshares's payout ratio is 39.29%.

Insiders Place Their Bets

In other news, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $135,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Michael W. Koehnen sold 1,400 shares of the company's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total transaction of $63,280.00. Following the transaction, the director now owns 3,000 shares in the company, valued at $135,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Cory W. Giese sold 3,465 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $43.11, for a total transaction of $149,376.15. Following the completion of the transaction, the director now directly owns 11,228 shares of the company's stock, valued at $484,039.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.64% of the company's stock.

Institutional Investors Weigh In On TriCo Bancshares

A number of large investors have recently made changes to their positions in TCBK. SG Americas Securities LLC boosted its position in TriCo Bancshares by 8.2% in 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 shares of TriCo Bancshares by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider's stock valued at $205,000 after acquiring an additional 439 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of TriCo Bancshares in the first quarter worth $227,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of TriCo Bancshares by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider's stock worth $315,000 after purchasing an additional 758 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of TriCo Bancshares by 36.2% during the first quarter. Principal Financial Group Inc. now owns 13,005 shares of the financial services provider's stock worth $478,000 after purchasing an additional 3,460 shares during the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

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.