TriCo Bancshares (NASDAQ:TCBK) Receives $49.80 Average Price Target from Analysts

TriCo Bancshares (NASDAQ:TCBK) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $49.80.

Several analysts recently issued reports on the stock. Stephens lifted their price target on shares of TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Piper Sandler lifted their target price on TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $48.00 price objective (up previously from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Janney Montgomery Scott reissued a “neutral” rating on shares of TriCo Bancshares in a report on Friday, July 26th. Finally, DA Davidson boosted their price objective on TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, July 29th.

TriCo Bancshares Trading Up 0.4 %

TCBK stock opened at $43.34 on Friday. TriCo Bancshares has a 52 week low of $29.38 and a 52 week high of $48.80. The company’s 50-day simple moving average is $43.56 and its 200 day simple moving average is $38.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $1.44 billion, a PE ratio of 13.21 and a beta of 0.54.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $97.86 million during the quarter, compared to analyst estimates of $98.55 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%. As a group, sell-side analysts anticipate that TriCo Bancshares will post 3.3 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.33 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a yield of 3.05%. TriCo Bancshares’s dividend payout ratio is presently 40.24%.

Insiders Place Their Bets

In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the sale, the director now owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the sale, the director now directly owns 3,000 shares in the company, valued at approximately $135,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cory W. Giese sold 3,465 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the sale, the director now owns 11,228 shares of the company’s stock, valued at $484,039.08. The disclosure for this sale can be found here. Corporate insiders own 4.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TCBK. Eagle Asset Management Inc. purchased a new position in TriCo Bancshares during the fourth quarter worth approximately $8,000,000. Sweeney & Michel LLC purchased a new position in shares of TriCo Bancshares in the first quarter valued at approximately $5,015,000. American Century Companies Inc. lifted its position in shares of TriCo Bancshares by 27.3% in the second quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock valued at $15,975,000 after acquiring an additional 86,689 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of TriCo Bancshares by 6.0% in the fourth quarter. Franklin Resources Inc. now owns 1,526,919 shares of the financial services provider’s stock valued at $65,612,000 after acquiring an additional 86,141 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of TriCo Bancshares by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,414,921 shares of the financial services provider’s stock valued at $60,801,000 after acquiring an additional 64,815 shares in the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.