TriCo Bancshares (NASDAQ:TCBK) Receives Consensus Rating of "Moderate Buy" from Brokerages

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) has received a consensus rating of "Moderate Buy" from the six analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $48.20.

Several brokerages have issued reports on TCBK. Piper Sandler dropped their target price 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. Stephens dropped their target price 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. Finally, DA Davidson lowered TriCo Bancshares from a "buy" rating to a "neutral" rating and boosted their target price for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th.

TriCo Bancshares Trading Up 0.6 %

TCBK traded up $0.25 on Friday, hitting $42.95. The company had a trading volume of 86,976 shares, compared to its average volume of 96,419. The company has a market cap of $1.42 billion, a PE ratio of 12.78 and a beta of 0.58. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $51.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The business's fifty day simple moving average is $46.02 and its 200 day simple moving average is $44.17.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, topping 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 company had revenue of $133.84 million during the quarter, compared to analyst estimates of $98.65 million. Equities research analysts expect that TriCo Bancshares will post 3.38 EPS for the current year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, December 6th. TriCo Bancshares's dividend payout ratio is presently 39.29%.

Insider Activity

In other news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total transaction of $252,297.00. Following the completion of the sale, the director now owns 6,128 shares of the company's stock, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.64% of the company's stock.

Institutional Trading of TriCo Bancshares

Several institutional investors and hedge funds have recently modified their holdings of TCBK. Barclays PLC raised its stake in TriCo Bancshares by 127.0% in the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider's stock worth $2,468,000 after buying an additional 32,379 shares in the last quarter. Geode Capital Management LLC raised its stake in TriCo Bancshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider's stock worth $33,344,000 after buying an additional 5,155 shares in the last quarter. JPMorgan Chase & Co. raised its stake in TriCo Bancshares by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider's stock worth $19,041,000 after buying an additional 25,817 shares in the last quarter. Stifel Financial Corp raised its stake in TriCo Bancshares by 2.2% in the third quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider's stock worth $2,049,000 after buying an additional 1,013 shares in the last quarter. Finally, Versor Investments LP bought a new position in TriCo Bancshares in the third quarter worth approximately $699,000. Institutional investors own 59.11% of the company's stock.

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.