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

Shares of TriCo Bancshares (NASDAQ:TCBK) have received an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $48.20.

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

TriCo Bancshares Stock Performance

NASDAQ TCBK opened at $44.03 on Monday. The firm has a market cap of $1.45 billion, a P/E ratio of 13.10 and a beta of 0.56. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $46.40 and its 200-day moving average is $43.59. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $51.06.

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

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s payout ratio is 39.29%.

Insider Buying and Selling

In other 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 transaction of $252,297.00. Following the completion of the sale, the director now directly owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds have recently added to or reduced their stakes in TCBK. Assenagon Asset Management S.A. increased its position in shares of TriCo Bancshares by 839.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock valued at $5,577,000 after purchasing an additional 116,838 shares during the last quarter. American Century Companies Inc. boosted its stake in 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 worth $15,975,000 after buying an additional 86,689 shares in the last quarter. Dimensional Fund Advisors LP grew its position in TriCo Bancshares by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after acquiring an additional 50,358 shares during the last quarter. Barclays PLC raised its stake in shares of TriCo Bancshares by 127.0% during the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock worth $2,468,000 after acquiring an additional 32,379 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of TriCo Bancshares by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock worth $19,041,000 after acquiring an additional 25,817 shares during the last quarter. Institutional investors own 59.11% of the company’s stock.

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.