TriCo Bancshares (NASDAQ:TCBK) Receives Consensus Rating of “Hold” from Brokerages

TriCo Bancshares (NASDAQ:TCBK) has received a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $48.60.

TCBK has been the topic of several research analyst reports. Wall Street Zen raised TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Zacks Research cut TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of TriCo Bancshares in a research report on Monday, December 29th. Keefe, Bruyette & Woods boosted their price target on TriCo Bancshares from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $46.00 price target (up previously from $45.00) on shares of TriCo Bancshares in a research report on Friday, October 24th.

Hedge Funds Weigh In On TriCo Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of TCBK. Federated Hermes Inc. raised its stake in shares of TriCo Bancshares by 17.7% in the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock worth $78,000 after buying an additional 290 shares during the period. Larson Financial Group LLC raised its stake in 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 acquiring an additional 459 shares during the period. Rafferty Asset Management LLC lifted its holdings in TriCo Bancshares by 3.2% during the third quarter. Rafferty Asset Management LLC now owns 17,106 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 525 shares in the last quarter. Swiss National Bank lifted its holdings in TriCo Bancshares by 1.2% during the third quarter. Swiss National Bank now owns 60,500 shares of the financial services provider’s stock valued at $2,687,000 after purchasing an additional 700 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of TriCo Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 820 shares during the period. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK opened at $48.06 on Friday. The firm’s 50-day moving average price is $47.27 and its 200-day moving average price is $44.64. TriCo Bancshares has a 52-week low of $35.20 and a 52-week high of $50.60. The company has a market cap of $1.56 billion, a PE ratio of 13.50 and a beta of 0.63. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.12. TriCo Bancshares had a net margin of 21.87% and a return on equity of 9.27%. The firm had revenue of $107.56 million during the quarter, compared to analysts’ expectations of $107.08 million. As a group, analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, December 5th. TriCo Bancshares’s dividend payout ratio is 40.45%.

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.