TriCo Bancshares (NASDAQ:TCBK) Receives $50.75 Average Price Target from Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK - Get Free Report) have been assigned an average recommendation of "Hold" from the five research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $50.75.

Several research analysts have recently commented on the company. DA Davidson lowered TriCo Bancshares from a "buy" rating to a "neutral" rating and raised their price target for the stock from $50.00 to $53.00 in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods decreased 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.

Insider Activity at TriCo Bancshares

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

Remove Ads

Institutional Trading of TriCo Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of TriCo Bancshares during the third quarter worth about $28,000. Sterling Capital Management LLC increased 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 purchasing an additional 896 shares in the last quarter. Aquatic Capital Management LLC increased its position in shares of TriCo Bancshares by 129.5% during the fourth quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock worth $100,000 after purchasing an additional 1,295 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of TriCo Bancshares during the third quarter worth about $114,000. Finally, Quantbot Technologies LP acquired a new stake in shares of TriCo Bancshares during the third quarter worth about $129,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Trading Down 0.2 %

Shares of TCBK traded down $0.09 during midday trading on Friday, hitting $41.75. 99,121 shares of the stock were exchanged, compared to its average volume of 98,050. TriCo Bancshares has a 52-week low of $31.73 and a 52-week high of $51.06. The stock has a fifty day simple moving average of $43.48 and a 200 day simple moving average of $44.44. The firm has a market cap of $1.38 billion, a P/E ratio of 12.07 and a beta of 0.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly 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%. On average, research analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.32 dividend on an annualized basis and a yield of 3.16%. 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.