Stephens Cuts TriCo Bancshares (NASDAQ:TCBK) Price Target to $50.00

TriCo Bancshares (NASDAQ:TCBK) had its target price trimmed by Stephens from $52.00 to $50.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on TCBK. DA Davidson lifted their price target on TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Piper Sandler cut their target price on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. Finally, Janney Montgomery Scott reaffirmed a “neutral” rating on shares of TriCo Bancshares in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, TriCo Bancshares has an average rating of “Moderate Buy” and a consensus target price of $48.60.

TriCo Bancshares Trading Down 2.1 %

NASDAQ TCBK opened at $42.73 on Tuesday. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $48.80. The business has a 50 day moving average price of $43.34 and a 200-day moving average price of $40.59. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 12.72 and a beta of 0.54.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 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 9.60%. The business had revenue of $133.84 million during the quarter, compared to analyst estimates of $98.65 million. As a group, equities analysts expect that TriCo Bancshares will post 3.37 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 39.29%.

Insider Activity at TriCo Bancshares

In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the sale, the director now owns 3,000 shares in the company, valued at $135,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Michael W. Koehnen sold 1,400 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the sale, the director now directly owns 3,000 shares in the company, valued at approximately $135,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cory W. Giese sold 3,465 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the sale, the director now directly owns 11,228 shares in the company, valued at $484,039.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.64% of the stock is owned by company insiders.

Institutional Trading of TriCo Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in TriCo Bancshares by 8.2% in the first quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock worth $139,000 after buying an additional 287 shares in the last quarter. ProShare Advisors LLC raised its position in TriCo Bancshares by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 439 shares during the period. Quantbot Technologies LP bought a new stake in TriCo Bancshares in the first quarter worth $227,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in TriCo Bancshares by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 758 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of TriCo Bancshares by 36.2% during the first quarter. Principal Financial Group Inc. now owns 13,005 shares of the financial services provider’s stock valued at $478,000 after buying an additional 3,460 shares during the last quarter. Hedge funds and other 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.