Brokerages Set TriCo Bancshares (NASDAQ:TCBK) Target Price at $48.20

TriCo Bancshares (NASDAQ:TCBK) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $48.20.

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

TriCo Bancshares Stock Performance

Shares of TCBK opened at $48.55 on Thursday. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06. The stock has a 50 day moving average price of $45.13 and a two-hundred day moving average price of $42.61. The firm has a market capitalization of $1.60 billion, a P/E ratio of 14.45 and a beta of 0.56. 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 posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. The business had revenue of $133.84 million for the quarter, compared to the consensus estimate of $98.65 million. Equities analysts forecast that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.33 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.72%. TriCo Bancshares’s dividend payout ratio is presently 39.29%.

Institutional Trading of TriCo Bancshares

Institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in TriCo Bancshares by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,895 shares of the financial services provider’s stock valued at $1,063,000 after buying an additional 1,119 shares during the period. SG Americas Securities LLC purchased a new stake in shares of TriCo Bancshares during the third quarter worth about $395,000. Creative Planning boosted its holdings in shares of TriCo Bancshares by 62.6% during the second quarter. Creative Planning now owns 21,447 shares of the financial services provider’s stock worth $849,000 after purchasing an additional 8,260 shares during the period. Versor Investments LP purchased a new stake in shares of TriCo Bancshares during the third quarter worth about $699,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of TriCo Bancshares by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock worth $59,471,000 after purchasing an additional 50,358 shares during the period. 59.11% of the stock is currently owned by hedge funds and other 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.