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

Shares of TriCo Bancshares (NASDAQ:TCBK - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $47.80.

A number of research firms have issued reports on TCBK. Keefe, Bruyette & Woods decreased their target price on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a research report on Monday. Stephens reiterated an "overweight" rating and issued a $47.00 price target on shares of TriCo Bancshares in a research report on Monday. Finally, Raymond James reduced their price target on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a research report on Friday.

TriCo Bancshares Stock Up 0.3 %

Shares of TCBK stock traded up $0.10 during trading hours on Friday, reaching $38.61. The company had a trading volume of 116,590 shares, compared to its average volume of 117,436. TriCo Bancshares has a 12 month low of $34.03 and a 12 month high of $51.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day simple moving average of $39.83 and a 200-day simple moving average of $43.31. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 11.16 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. The business had revenue of $98.62 million for the quarter, compared to analyst estimates of $99.59 million. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. On average, research analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Friday, March 7th. TriCo Bancshares's dividend payout ratio is currently 38.48%.

Institutional Investors Weigh In On TriCo Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas lifted its holdings in shares of TriCo Bancshares by 22.0% in the 1st quarter. Teacher Retirement System of Texas now owns 10,344 shares of the financial services provider's stock worth $413,000 after acquiring an additional 1,864 shares during the last quarter. KBC Group NV bought a new stake in shares of TriCo Bancshares in the 1st quarter worth approximately $61,000. Golden State Wealth Management LLC lifted its holdings in shares of TriCo Bancshares by 100.9% in the 1st quarter. Golden State Wealth Management LLC now owns 9,754 shares of the financial services provider's stock worth $390,000 after acquiring an additional 4,898 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of TriCo Bancshares by 26.0% in the 1st quarter. Handelsbanken Fonder AB now owns 6,300 shares of the financial services provider's stock worth $252,000 after acquiring an additional 1,300 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of TriCo Bancshares by 21.4% in the 1st quarter. SG Americas Securities LLC now owns 14,310 shares of the financial services provider's stock worth $572,000 after acquiring an additional 2,527 shares during the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

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.