Analysts Set TriCo Bancshares (NASDAQ:TCBK) PT at $48.20

Shares of TriCo Bancshares (NASDAQ:TCBK) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $48.20.

A number of research firms recently weighed in on TCBK. DA Davidson lowered shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and upped their target price for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Piper Sandler decreased their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, Stephens reduced their target price on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th.

Insider Buying and Selling at TriCo Bancshares

In related news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total value of $252,297.00. Following the transaction, the director now owns 6,128 shares in the company, valued at $303,152.16. This trade represents a 45.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.64% of the company’s stock.

Hedge Funds Weigh In On TriCo Bancshares

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in shares of TriCo Bancshares by 27.1% during the 4th quarter. SG Americas Securities LLC now owns 11,783 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 2,512 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in TriCo Bancshares by 23.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock worth $7,035,000 after buying an additional 30,227 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in TriCo Bancshares by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock worth $19,041,000 after buying an additional 25,817 shares during the last quarter. Geode Capital Management LLC raised its holdings in TriCo Bancshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock worth $33,344,000 after buying an additional 5,155 shares during the last quarter. Finally, Barclays PLC raised its holdings in TriCo Bancshares by 127.0% in the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock worth $2,468,000 after buying an additional 32,379 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

Shares of TCBK opened at $42.95 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.42 billion, a P/E ratio of 12.78 and a beta of 0.58. The firm’s fifty day simple moving average is $45.93 and its two-hundred day simple moving average is $44.27. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The company had revenue of $133.84 million for the quarter, compared to analysts’ expectations of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. As a group, analysts predict that TriCo Bancshares will post 3.38 EPS for the current year.

TriCo Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Friday, December 6th. TriCo Bancshares’s payout ratio is 39.29%.

About TriCo Bancshares

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.