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

Shares of TriCo Bancshares (NASDAQ:TCBK) have been given an average rating of “Moderate Buy” by the seven analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $54.60.

A number of analysts recently weighed in on TCBK shares. Piper Sandler raised their target price on shares of TriCo Bancshares from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Zacks Research upgraded shares of TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. North Reef Capital Management LP acquired a new position in TriCo Bancshares in the 4th quarter valued at $22,994,000. Mercer Global Advisors Inc. ADV acquired a new stake in TriCo Bancshares in the 3rd quarter worth $6,972,000. Millennium Management LLC grew its position in TriCo Bancshares by 292.7% in the 3rd quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock worth $6,009,000 after purchasing an additional 100,858 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of TriCo Bancshares during the 1st quarter worth about $4,527,000. Finally, FJ Capital Management LLC bought a new position in shares of TriCo Bancshares during the 4th quarter worth about $4,381,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Price Performance

Shares of NASDAQ:TCBK opened at $50.69 on Monday. TriCo Bancshares has a 12 month low of $36.32 and a 12 month high of $53.18. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.86. The stock’s 50 day moving average price is $49.79 and its 200 day moving average price is $49.08. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 12.83 and a beta of 0.60.

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

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, June 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.8%. TriCo Bancshares’s dividend payout ratio is 36.46%.

About TriCo Bancshares

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.