TriCo Bancshares (NASDAQ:TCBK) Receives $48.20 Average PT from Brokerages

Shares of TriCo Bancshares (NASDAQ:TCBK) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $48.20.

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

Insider Transactions at TriCo Bancshares

In other news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total transaction of $252,297.00. Following the sale, the director now owns 6,128 shares of the company’s stock, valued at $303,152.16. This trade represents a 45.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.64% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in TriCo Bancshares during the 3rd quarter valued at $28,000. Point72 DIFC Ltd bought a new position in TriCo Bancshares in the third quarter valued at about $114,000. Quantbot Technologies LP purchased a new position in TriCo Bancshares in the third quarter worth about $129,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TriCo Bancshares during the 3rd quarter valued at about $210,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of TriCo Bancshares during the 3rd quarter valued at about $259,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Performance

TriCo Bancshares stock opened at $44.03 on Monday. TriCo Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $51.06. The stock’s 50 day simple moving average is $46.39 and its two-hundred day simple moving average is $43.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 13.10 and a beta of 0.56.

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

TriCo Bancshares Announces Dividend

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