Shares of TriCo Bancshares (NASDAQ:TCBK) have been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $41.00.
Several research firms have recently commented on TCBK. BidaskClub lowered TriCo Bancshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Zacks Investment Research lowered TriCo Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. ValuEngine lowered TriCo Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Keefe, Bruyette & Woods restated a “hold” rating and set a $45.00 price target on shares of TriCo Bancshares in a research report on Friday, December 22nd. Finally, FIG Partners lowered TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 13th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Nationwide Fund Advisors raised its stake in shares of TriCo Bancshares by 11.1% in the third quarter. Nationwide Fund Advisors now owns 165,568 shares of the financial services provider’s stock valued at $6,747,000 after acquiring an additional 16,522 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of TriCo Bancshares by 24.4% in the third quarter. Macquarie Group Ltd. now owns 56,227 shares of the financial services provider’s stock valued at $2,291,000 after acquiring an additional 11,027 shares in the last quarter. Context BH Capital Management LP raised its stake in shares of TriCo Bancshares by 10.1% in the second quarter. Context BH Capital Management LP now owns 54,484 shares of the financial services provider’s stock valued at $1,915,000 after acquiring an additional 5,004 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of TriCo Bancshares in the third quarter valued at $440,000. Finally, Victory Capital Management Inc. raised its stake in shares of TriCo Bancshares by 6.5% in the second quarter. Victory Capital Management Inc. now owns 56,361 shares of the financial services provider’s stock valued at $1,981,000 after acquiring an additional 3,437 shares in the last quarter. Institutional investors and hedge funds own 68.96% of the company’s stock.
TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). TriCo Bancshares had a return on equity of 10.17% and a net margin of 21.87%. The firm had revenue of $57.01 million for the quarter, compared to analysts’ expectations of $56.99 million. equities research analysts predict that TriCo Bancshares will post 2.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.72%. TriCo Bancshares’s dividend payout ratio is currently 31.48%.
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About TriCo Bancshares
TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.
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