TriCo Bancshares (NASDAQ:TCBK) Receives $50.75 Average Price Target from Analysts

TriCo Bancshares (NASDAQ:TCBK) has been given an average recommendation of “Hold” by the five ratings firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $50.75.

Separately, Keefe, Bruyette & Woods decreased their price objective on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a report on Tuesday, January 28th.

TriCo Bancshares Trading Up 1.6 %

NASDAQ:TCBK opened at $40.71 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $51.06. The company has a market cap of $1.34 billion, a P/E ratio of 11.77 and a beta of 0.55. The business has a 50 day moving average price of $43.35 and a two-hundred day moving average price of $44.41.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. As a group, analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, March 7th. This represents a $1.32 dividend on an annualized basis and a yield of 3.24%. TriCo Bancshares’s dividend payout ratio (DPR) is 38.15%.

Hedge Funds Weigh In On TriCo Bancshares

Several large investors have recently modified their holdings of the stock. Barclays PLC boosted its holdings 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 during the period. Geode Capital Management LLC lifted its holdings in TriCo Bancshares by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock worth $33,344,000 after purchasing an additional 5,155 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in TriCo Bancshares by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock valued at $19,041,000 after purchasing an additional 25,817 shares during the period. Assenagon Asset Management S.A. boosted its stake in TriCo Bancshares by 23.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock valued at $7,035,000 after purchasing an additional 30,227 shares during the period. Finally, Stifel Financial Corp grew its holdings in TriCo Bancshares by 2.2% in the 3rd quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider’s stock valued at $2,049,000 after buying an additional 1,013 shares in the last quarter. 59.11% of the stock is owned by institutional investors.

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.