TriCo Bancshares (NASDAQ:TCBK) Given Average Recommendation of "Hold" by Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK - Get Free Report) have earned a consensus rating of "Hold" from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $50.75.

TCBK has been the subject of a number of research reports. DA Davidson lowered TriCo Bancshares from a "buy" rating to a "neutral" rating and raised their target price for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Stephens lowered their price objective on TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Tuesday, October 29th. Piper Sandler lowered their price objective on 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 lowered their price objective on TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating for the company in a research report on Tuesday, January 28th.

Insiders Place Their Bets

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the transaction, the director now owns 6,128 shares in the company, valued at approximately $303,152.16. This trade represents a 45.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.64% of the company's stock.

Hedge Funds Weigh In On TriCo Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in TriCo Bancshares during the third quarter worth about $28,000. Sterling Capital Management LLC lifted its holdings in shares of TriCo Bancshares by 800.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 896 shares in the last quarter. Aquatic Capital Management LLC lifted its holdings in shares of TriCo Bancshares by 129.5% during the 4th quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock valued at $100,000 after purchasing an additional 1,295 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of TriCo Bancshares during the 3rd quarter valued at about $114,000. Finally, Quantbot Technologies LP bought a new position in shares of TriCo Bancshares during the 3rd quarter valued at about $129,000. Institutional investors own 59.11% of the company's stock.

TriCo Bancshares Stock Performance

TCBK stock traded up $0.59 during midday trading on Tuesday, hitting $44.92. The stock had a trading volume of 128,565 shares, compared to its average volume of 93,109. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.98 and a beta of 0.57. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06. The stock has a 50-day simple moving average of $44.28 and a 200 day simple moving average of $44.36. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. As a group, equities research analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current 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 given a $0.33 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.94%. TriCo Bancshares's payout ratio is 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.