Analysts Set TriCo Bancshares (NASDAQ:TCBK) Target Price at $48.60

TriCo Bancshares (NASDAQ:TCBK) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $48.60.

Several research firms have recently weighed in on TCBK. Zacks Research raised shares of TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TriCo Bancshares in a report on Monday. Wall Street Zen upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Raymond James Financial reaffirmed an “outperform” rating and issued a $46.00 target price (up from $45.00) on shares of TriCo Bancshares in a research note on Friday, October 24th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of TriCo Bancshares from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th.

Institutional Investors Weigh In On TriCo Bancshares

Hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings 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 valued at $26,000 after buying an additional 459 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in TriCo Bancshares in the 3rd quarter worth $58,000. PNC Financial Services Group Inc. purchased a new stake in TriCo Bancshares during the third quarter valued at about $76,000. Federated Hermes Inc. grew its stake in shares of TriCo Bancshares by 17.7% during the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after buying an additional 290 shares during the last quarter. Finally, CWM LLC increased its stake in TriCo Bancshares by 74.0% in the 3rd quarter. CWM LLC now owns 2,001 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 851 shares during the period. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Trading Up 3.4%

Shares of TriCo Bancshares stock opened at $49.80 on Monday. The company’s 50-day moving average price is $45.12 and its 200-day moving average price is $43.43. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. TriCo Bancshares has a 12-month low of $35.20 and a 12-month high of $50.30. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 13.99 and a beta of 0.64.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Wednesday, October 22nd. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.12. TriCo Bancshares had a net margin of 21.87% and a return on equity of 9.27%. The business had revenue of $107.56 million for the quarter, compared to analyst estimates of $107.08 million. On average, equities analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $0.36 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.44 annualized dividend and a yield of 2.9%. TriCo Bancshares’s payout ratio is 40.45%.

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.