TriCo Bancshares (NASDAQ:TCBK) Given Average Recommendation of “Hold” by Brokerages

Shares of TriCo Bancshares (NASDAQ:TCBK) have been assigned a consensus rating of “Hold” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $50.75.

Separately, Keefe, Bruyette & Woods cut their target price on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 28th.

TriCo Bancshares Trading Up 1.6 %

Shares of NASDAQ TCBK opened at $40.71 on Friday. TriCo Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $51.06. The firm has a market capitalization of $1.34 billion, a P/E ratio of 11.77 and a beta of 0.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50 day simple moving average is $43.35 and its 200 day simple moving average is $44.41.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly 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 return on equity of 9.63% and a net margin of 21.63%. On average, analysts predict that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

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

Institutional Investors Weigh In On TriCo Bancshares

Hedge funds have recently modified their holdings of the business. Versor Investments LP bought a new stake in TriCo Bancshares during the 3rd quarter worth approximately $699,000. Curi RMB Capital LLC increased its position in shares of TriCo Bancshares by 1.6% during the third quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider’s stock worth $14,792,000 after acquiring an additional 5,314 shares in the last quarter. Empowered Funds LLC increased its position in shares of TriCo Bancshares by 5.3% during the third quarter. Empowered Funds LLC now owns 52,834 shares of the financial services provider’s stock worth $2,253,000 after acquiring an additional 2,680 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of TriCo Bancshares during the third quarter worth $588,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in TriCo Bancshares in the 3rd quarter valued at $210,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

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.