TriCo Bancshares (NASDAQ:TCBK) Receives $48.20 Consensus Target Price from Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $48.20.

TCBK has been the subject of several recent analyst reports. DA Davidson cut TriCo Bancshares from a "buy" rating to a "neutral" rating and upped their target price for the stock from $50.00 to $53.00 in a research note on Tuesday, November 12th. Stephens decreased 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 note on Tuesday, October 29th. Finally, Piper Sandler reduced their price target on TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, October 28th.

Institutional Trading of TriCo Bancshares

A number of large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in TriCo Bancshares by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,895 shares of the financial services provider's stock valued at $1,063,000 after acquiring an additional 1,119 shares during the last quarter. SG Americas Securities LLC purchased a new stake in TriCo Bancshares in the third quarter worth approximately $395,000. Creative Planning grew its position in TriCo Bancshares by 62.6% during the second quarter. Creative Planning now owns 21,447 shares of the financial services provider's stock valued at $849,000 after acquiring an additional 8,260 shares during the last quarter. Versor Investments LP purchased a new position in shares of TriCo Bancshares during the third quarter worth approximately $699,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of TriCo Bancshares by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider's stock valued at $59,471,000 after purchasing an additional 50,358 shares in the last quarter. Institutional investors own 59.11% of the company's stock.

TriCo Bancshares Trading Up 0.7 %

Shares of TCBK stock traded up $0.32 during trading hours on Thursday, reaching $48.88. The company had a trading volume of 115,840 shares, compared to its average volume of 117,014. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $51.06. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 14.55 and a beta of 0.54. The company has a 50 day moving average of $44.61 and a 200 day moving average of $42.26.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. The business had revenue of $133.84 million during the quarter, compared to analyst estimates of $98.65 million. On average, equities research analysts anticipate that TriCo Bancshares will post 3.38 EPS for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, December 6th. TriCo Bancshares's 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.