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

Shares of TriCo Bancshares (NASDAQ:TCBK - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, Marketbeat reports. Three equities research 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 analysts that have issued a report on the stock in the last year is $48.20.

A number of brokerages recently issued reports on TCBK. Stephens cut their price target 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. DA Davidson downgraded shares of TriCo Bancshares from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Finally, Piper Sandler decreased their price objective 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.

Insider Activity

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 shares were sold at an average price of $49.47, for a total value of $252,297.00. Following the transaction, the director now directly owns 6,128 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Company insiders own 4.64% of the company's stock.

Hedge Funds Weigh In On TriCo Bancshares

Institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of TriCo Bancshares during the 3rd quarter valued at approximately $28,000. Point72 DIFC Ltd bought a new position in shares of TriCo Bancshares in the third quarter worth $114,000. Quantbot Technologies LP purchased a new position in shares of TriCo Bancshares in the third quarter valued at $129,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TriCo Bancshares during the 3rd quarter valued at $210,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of TriCo Bancshares during the third quarter worth about $259,000. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Price Performance

NASDAQ TCBK traded down $0.19 during trading hours on Monday, reaching $44.26. 221,099 shares of the company's stock were exchanged, compared to its average volume of 118,537. The firm has a fifty day moving average of $46.46 and a 200-day moving average of $43.52. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.46 billion, a PE ratio of 13.17 and a beta of 0.56. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06.

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, topping analysts' consensus estimates of $0.82 by $0.06. The business 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 9.45%. On average, equities research analysts predict that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, December 6th. TriCo Bancshares's dividend payout ratio is 39.29%.

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.