Analysts Set TriCo Bancshares (NASDAQ:TCBK) PT at $56.40

TriCo Bancshares (NASDAQ:TCBK) has been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and one has given 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 $56.40.

A number of research analysts recently commented on TCBK shares. DA Davidson increased their target price on TriCo Bancshares from $55.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a report on Wednesday, July 8th. Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Raymond James Financial downgraded shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 14th. Finally, Piper Sandler cut shares of TriCo Bancshares from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $63.00 to $61.00 in a research note on Tuesday, July 14th.

Institutional Investors Weigh In On TriCo Bancshares

Several institutional investors have recently bought and sold shares of TCBK. Fermata Advisors LLC purchased a new position in TriCo Bancshares in the 2nd quarter worth approximately $209,000. Parallel Advisors LLC increased its position in shares of TriCo Bancshares by 88.5% in the first quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 676 shares during the period. Bank of America Corp DE increased its position in shares of TriCo Bancshares by 39.4% in the first quarter. Bank of America Corp DE now owns 86,742 shares of the financial services provider’s stock valued at $4,124,000 after acquiring an additional 24,500 shares during the period. California State Teachers Retirement System boosted its holdings in shares of TriCo Bancshares by 13.3% during the first quarter. California State Teachers Retirement System now owns 32,720 shares of the financial services provider’s stock worth $1,556,000 after purchasing an additional 3,837 shares during the period. Finally, Quantinno Capital Management LP grew its stake in shares of TriCo Bancshares by 22.8% in the first quarter. Quantinno Capital Management LP now owns 10,836 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 2,014 shares during the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Performance

NASDAQ:TCBK opened at $58.12 on Tuesday. The stock has a market cap of $1.85 billion, a P/E ratio of 13.94 and a beta of 0.60. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $53.44 and its two-hundred day moving average price is $50.70. TriCo Bancshares has a twelve month low of $39.84 and a twelve month high of $61.71.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.03. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.27%. The company had revenue of $111.88 million for the quarter, compared to analysts’ expectations of $110.99 million. As a group, equities analysts predict that TriCo Bancshares will post 4.22 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a $0.36 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.5%. TriCo Bancshares’s payout ratio is currently 36.46%.

TriCo Bancshares Company Profile

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.