TriCo Bancshares (NASDAQ:TCBK) Stock Has Average Price Target of $55.62

Shares of TriCo Bancshares (NASDAQ:TCBK) have been assigned a consensus rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $55.62.

Several equities research analysts have commented on the company. Piper Sandler downgraded TriCo Bancshares from a “neutral” rating to a “hold” rating in a report on Monday, October 26th. Stephens raised TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. DA Davidson reiterated a “neutral” rating and issued a $55.00 price target on shares of TriCo Bancshares in a research note on Tuesday, October 27th. Raymond James Financial cut shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of TriCo Bancshares in a research note on Friday, October 2nd.

Institutional Trading of TriCo Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in TriCo Bancshares in the 2nd quarter worth about $26,000. Swiss National Bank raised its holdings in shares of TriCo Bancshares by 1.0% during the first quarter. Swiss National Bank now owns 61,100 shares of the financial services provider’s stock valued at $2,905,000 after purchasing an additional 600 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of TriCo Bancshares during the second quarter valued at approximately $36,000. Parallel Advisors LLC lifted its position in TriCo Bancshares by 88.5% during the first quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 676 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in TriCo Bancshares by 69.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,964 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 802 shares during the last quarter. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Down 1.8%

Shares of NASDAQ:TCBK opened at $52.52 on Thursday. The firm has a market capitalization of $1.68 billion, a P/E ratio of 12.19 and a beta of 0.66. The stock has a 50 day moving average price of $52.85 and a 200-day moving average price of $51.96. TriCo Bancshares has a 52-week low of $43.22 and a 52-week high of $61.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09. TriCo Bancshares had a return on equity of 10.47% and a net margin of 25.10%. The business had revenue of $116.71 million during the quarter, compared to the consensus estimate of $114.63 million. As a group, equities research analysts anticipate that TriCo Bancshares will post 4.39 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 16th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, November 16th. TriCo Bancshares’s payout ratio is presently 33.41%.

About TriCo Bancshares

TriCo Bancshares (NASDAQ: TCBK) is a bank holding company headquartered in Chico, California. Through its principal subsidiary, Tri Counties Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and public entities.

Tri Counties Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and other financial services.