TriCo Bancshares (TCBK) – What Are Brokerages Thinking About This Stock?

TriCo Bancshares (NASDAQ:TCBK) has earned a consensus rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $55.62.

Several brokerages recently issued reports on TCBK. Raymond James Financial downgraded TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research report on Friday, October 2nd. DA Davidson reiterated a “neutral” rating and issued a $55.00 target price on shares of TriCo Bancshares in a research note on Tuesday, October 27th. Stephens raised TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. Finally, Piper Sandler cut TriCo Bancshares from a “neutral” rating to a “hold” rating in a report on Monday, October 26th.

TriCo Bancshares Stock Up 2.1%

Shares of NASDAQ:TCBK opened at $53.61 on Thursday. The stock has a market cap of $1.71 billion, a P/E ratio of 12.44 and a beta of 0.66. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $52.82 and a two-hundred day moving average of $51.98. TriCo Bancshares has a 52-week low of $43.52 and a 52-week high of $61.71.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.09 by $0.09. TriCo Bancshares had a net margin of 25.10% and a return on equity of 10.47%. The firm had revenue of $116.71 million during the quarter, compared to the consensus estimate of $114.63 million. On average, research analysts expect that TriCo Bancshares will post 4.39 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 16th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, November 16th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 33.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of TriCo Bancshares during the second quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in TriCo Bancshares in the second quarter worth $36,000. Parallel Advisors LLC boosted its stake in TriCo Bancshares by 88.5% during the 1st quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 676 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in TriCo Bancshares by 69.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,964 shares of the financial services provider’s stock valued at $101,000 after buying an additional 802 shares during the last quarter. Finally, Bell Investment Advisors Inc purchased a new position in TriCo Bancshares during the third quarter valued at $123,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

About TriCo Bancshares

TriCo Bancshares (NASDAQ: TCBK) is a bank holding company headquartered in Chico, California. Through its principal subsidiary, Tri Counties Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and public entities.

Tri Counties Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and other financial services.