Brokerages Set TriCo Bancshares (NASDAQ:TCBK) PT at $53.80

TriCo Bancshares (NASDAQ:TCBK) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $53.80.

TCBK has been the topic of several research reports. Piper Sandler boosted their target price on TriCo Bancshares from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Stephens raised their price target on shares of TriCo Bancshares from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Zacks Research downgraded shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Weiss Ratings raised shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Finally, Keefe, Bruyette & Woods increased their target price on shares of TriCo Bancshares from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday, January 26th.

TriCo Bancshares Stock Performance

TCBK opened at $47.21 on Wednesday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 12.73 and a beta of 0.63. The business’s 50-day moving average price is $49.21 and its two-hundred day moving average price is $47.13. TriCo Bancshares has a 1 year low of $35.20 and a 1 year high of $53.18. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.02. The company had revenue of $109.40 million during the quarter, compared to analysts’ expectations of $108.19 million. TriCo Bancshares had a return on equity of 9.43% and a net margin of 22.56%. Equities analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, March 6th. TriCo Bancshares’s dividend payout ratio is currently 38.81%.

Institutional Trading of TriCo Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its position in TriCo Bancshares by 40.3% during the fourth quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 211 shares in the last quarter. Federated Hermes Inc. grew its position in shares of TriCo Bancshares by 17.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 290 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of TriCo Bancshares by 1.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 30,254 shares of the financial services provider’s stock valued at $1,433,000 after acquiring an additional 329 shares during the period. Larson Financial Group LLC increased its stake in shares of TriCo Bancshares by 337.5% during the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 459 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in shares of TriCo Bancshares by 3.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 17,106 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 525 shares during the period. Institutional investors and hedge funds own 59.11% of the company’s stock.

About TriCo Bancshares

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.