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

Shares of TriCo Bancshares (NASDAQ:TCBK) have received an average recommendation of “Hold” from the five research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $50.75.

TCBK has been the subject of several recent research reports. Stephens decreased 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. DA Davidson downgraded shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $50.00 to $53.00 in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods decreased their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a research report on Tuesday, January 28th. Finally, Piper Sandler decreased their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 28th.

Insider Transactions at TriCo Bancshares

In other news, Director Cory W. Giese sold 5,100 shares of the business’s 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 completion of the sale, the director now directly owns 6,128 shares in the company, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.64% of the stock is owned by corporate insiders.

Institutional Trading of TriCo Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of TCBK. FMR LLC lifted its stake in shares of TriCo Bancshares by 18.1% in the fourth quarter. FMR LLC now owns 2,889,943 shares of the financial services provider’s stock worth $126,291,000 after buying an additional 443,858 shares during the last quarter. Bolthouse Investments LLC bought a new stake in TriCo Bancshares in the 4th quarter valued at $15,457,000. Assenagon Asset Management S.A. increased its holdings in TriCo Bancshares by 839.2% in 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 buying an additional 116,838 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of TriCo Bancshares in the 4th quarter worth about $1,818,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of TriCo Bancshares by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider’s stock worth $71,436,000 after purchasing an additional 39,684 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Stock Performance

Shares of TCBK opened at $44.92 on Tuesday. The company’s 50 day moving average price is $44.22 and its 200 day moving average price is $44.33. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06. The company has a market capitalization of $1.48 billion, a PE ratio of 12.98 and a beta of 0.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 EPS 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%. Research analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s payout ratio is 38.15%.

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.