TriCo Bancshares (NASDAQ:TCBK) Price Target Raised to $53.00

TriCo Bancshares (NASDAQ:TCBK) had its price objective hoisted by Piper Sandler from $47.00 to $53.00 in a research report report published on Monday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the company. DA Davidson boosted their price target on TriCo Bancshares from $41.00 to $55.00 and gave the stock a buy rating in a research note on Monday. Janney Montgomery Scott restated a neutral rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Finally, StockNews.com upgraded TriCo Bancshares from a sell rating to a hold rating in a research note on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $49.80.

TriCo Bancshares Stock Down 0.5 %

TCBK stock opened at $46.53 on Monday. TriCo Bancshares has a 1-year low of $29.38 and a 1-year high of $48.80. The business has a fifty day moving average price of $39.73 and a 200-day moving average price of $37.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $1.54 billion, a P/E ratio of 14.20 and a beta of 0.56.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Friday, June 7th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 40.24%.

Insider Activity at TriCo Bancshares

In other TriCo Bancshares news, EVP Craig B. Carney sold 757 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $38.00, for a total value of $28,766.00. Following the completion of the sale, the executive vice president now owns 32,325 shares in the company, valued at $1,228,350. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.64% of the stock is owned by company insiders.

Institutional Trading of TriCo Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lindbrook Capital LLC increased its position in TriCo Bancshares by 124.6% in the fourth quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock worth $34,000 after buying an additional 440 shares in the last quarter. Quadrant Capital Group LLC increased its position in TriCo Bancshares by 470.9% in the fourth quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock worth $40,000 after buying an additional 777 shares in the last quarter. SG Americas Securities LLC increased its position in TriCo Bancshares by 8.2% in the first quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock worth $139,000 after buying an additional 287 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of TriCo Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 439 shares during the period. Finally, Bailard Inc. bought a new position in shares of TriCo Bancshares in the fourth quarter worth about $249,000. Hedge funds and other 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.