Brokerages Set TriCo Bancshares (NASDAQ:TCBK) Target Price at $54.60

TriCo Bancshares (NASDAQ:TCBK) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $54.60.

A number of equities research analysts have weighed in on the company. Piper Sandler lifted their price objective on TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of TCBK. Larson Financial Group LLC grew 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 period. Danske Bank A S acquired a new stake in shares of TriCo Bancshares in the fourth quarter valued at about $28,000. Farther Finance Advisors LLC lifted its stake in shares of TriCo Bancshares by 40.3% in the fourth quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 211 shares during the period. Abound Financial LLC purchased a new stake in TriCo Bancshares during the fourth quarter worth about $43,000. Finally, Parallel Advisors LLC boosted its holdings 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 worth $68,000 after buying an additional 676 shares in the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Down 0.8%

TCBK stock opened at $54.54 on Friday. The stock has a market capitalization of $1.74 billion, a PE ratio of 13.81 and a beta of 0.60. The company has a fifty day moving average of $51.11 and a 200-day moving average of $49.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.87. TriCo Bancshares has a one year low of $39.69 and a one year high of $55.32.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Monday, March 2nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $111.21 million for the quarter. TriCo Bancshares had a net margin of 23.71% and a return on equity of 9.87%. As a group, analysts expect that TriCo Bancshares will post 4.22 EPS for the current year.

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, June 5th. TriCo Bancshares’s dividend 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.