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

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently 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 12 month price target among brokers that have updated their coverage on the stock in the last year is $48.20.

Several analysts have issued reports on TCBK shares. DA Davidson cut TriCo Bancshares from a "buy" rating to a "neutral" rating and increased their target price for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th. Piper Sandler dropped their price objective on TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, October 28th. Finally, Stephens cut their target price on TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th.

TriCo Bancshares Stock Up 0.7 %

NASDAQ TCBK traded up $0.32 on Thursday, reaching $48.88. 115,840 shares of the stock traded hands, compared to its average volume of 117,014. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The company has a fifty day moving average price of $44.61 and a 200-day moving average price of $42.26. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 14.55 and a beta of 0.54.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The company had revenue of $133.84 million for the quarter, compared to analysts' expectations of $98.65 million. As a group, research analysts forecast that TriCo Bancshares will post 3.38 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, December 6th. This represents a $1.32 annualized dividend and a dividend yield of 2.70%. TriCo Bancshares's dividend payout ratio (DPR) is currently 39.29%.

Institutional Trading of TriCo Bancshares

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of TriCo Bancshares by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,895 shares of the financial services provider's stock worth $1,063,000 after buying an additional 1,119 shares during the period. Sweeney & Michel LLC grew its stake in TriCo Bancshares by 0.8% during the 2nd quarter. Sweeney & Michel LLC now owns 132,678 shares of the financial services provider's stock valued at $5,173,000 after purchasing an additional 1,051 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of TriCo Bancshares by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider's stock valued at $7,305,000 after purchasing an additional 9,723 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of TriCo Bancshares by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider's stock worth $315,000 after purchasing an additional 758 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of TriCo Bancshares by 7.5% during the second quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider's stock worth $553,000 after purchasing an additional 973 shares during the period. Hedge funds and other institutional investors own 59.11% of the company's stock.

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.