TriCo Bancshares (NASDAQ:TCBK) Given Consensus Rating of “Hold” by Analysts

TriCo Bancshares (NASDAQ:TCBK) has been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $56.60.

Several research firms have recently issued reports on TCBK. Raymond James Financial cut TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 14th. DA Davidson dropped their price target on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Piper Sandler lifted their price target on shares of TriCo Bancshares from $61.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Zacks Research downgraded shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Finally, Stephens upgraded shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th.

Institutional Trading of TriCo Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC boosted its position in TriCo Bancshares by 85.3% during the 2nd quarter. Squarepoint Ops LLC now owns 20,777 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 9,562 shares in the last quarter. Allworth Financial LP raised its position in shares of TriCo Bancshares by 1.7% in the 2nd quarter. Allworth Financial LP now owns 129,979 shares of the financial services provider’s stock worth $6,999,000 after acquiring an additional 2,134 shares in the last quarter. Round Rock Advisors LLC bought a new position in shares of TriCo Bancshares in the 2nd quarter worth approximately $360,000. Kingsview Wealth Management LLC purchased a new position in shares of TriCo Bancshares in the 2nd quarter valued at approximately $260,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of TriCo Bancshares in the 2nd quarter valued at approximately $26,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Up 0.3%

Shares of NASDAQ:TCBK opened at $53.82 on Wednesday. TriCo Bancshares has a 1 year low of $40.44 and a 1 year high of $61.71. The company has a market cap of $1.72 billion, a PE ratio of 12.91 and a beta of 0.59. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50-day moving average is $56.36 and its 200 day moving average is $52.23.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%.The business had revenue of $111.88 million during the quarter, compared to analyst estimates of $110.99 million. Sell-side analysts anticipate that TriCo Bancshares will post 4.28 EPS for the current year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, September 11th. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. TriCo Bancshares’s payout ratio is currently 34.53%.

TriCo Bancshares Company Profile

TriCo Bancshares is a bank holding company headquartered in Chico, California. Its principal subsidiary, Tri Counties Bank, provides community banking services to individuals, businesses and public-sector customers.

The bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business loans, cash-management services and online and mobile banking. It also provides wealth management, trust and investment-related services through affiliated or specialized banking operations.

Tri Counties Bank was established in 1975 and serves communities across Northern and Central California through a network of branches and other delivery channels.