TriCo Bancshares (NASDAQ:TCBK) Stock Rated “Hold” by Sell-Side Analysts

TriCo Bancshares (NASDAQ:TCBK) has earned a consensus rating of “Hold” from the seven research firms that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $55.30.

Several brokerages have recently weighed in on TCBK. Raymond James Financial lowered TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Piper Sandler lowered their price target on TriCo Bancshares from $63.00 to $56.50 and set a “neutral” rating for the company in a report on Thursday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TriCo Bancshares in a report on Friday, October 2nd. DA Davidson dropped their price target on shares of TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Finally, Stephens upgraded shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research note on Thursday, August 6th.

Institutional Trading of TriCo Bancshares

A number of large investors have recently bought and sold shares of TCBK. Public Employees Retirement System of Ohio purchased a new stake in TriCo Bancshares in the 2nd quarter valued at approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of TriCo Bancshares during the 2nd quarter worth approximately $36,000. Abound Financial LLC purchased a new position in shares of TriCo Bancshares during the 4th quarter worth approximately $43,000. Parallel Advisors LLC lifted its holdings in shares of TriCo Bancshares by 88.5% in the 1st quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock valued at $68,000 after buying an additional 676 shares during the period. Finally, Fermata Advisors LLC purchased a new stake in shares of TriCo Bancshares in the second quarter valued at approximately $209,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Price Performance

Shares of TCBK opened at $51.41 on Friday. The stock has a market cap of $1.64 billion, a PE ratio of 12.33 and a beta of 0.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. TriCo Bancshares has a 1-year low of $40.44 and a 1-year high of $61.71. The firm has a 50-day simple moving average of $54.25 and a two-hundred day simple moving average of $52.79.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.03. The company had revenue of $111.88 million during the quarter, compared to the consensus estimate of $110.99 million. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%. As a group, analysts forecast that TriCo Bancshares will post 4.28 EPS for the current year.

TriCo Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a dividend of $0.36 per share. The ex-dividend date was Friday, September 11th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.8%. TriCo Bancshares’s payout ratio is 34.53%.

TriCo Bancshares Company Profile

TriCo Bancshares is a bank holding company headquartered in Chico, California. Its principal subsidiary, Tri Counties Bank, provides banking and financial services to individuals, families, businesses, agricultural customers and public-sector organizations.

Tri Counties Bank offers deposit accounts, consumer and business loans, residential and commercial real estate financing, cash-management services, online and mobile banking, and other treasury services. The bank also provides wealth management, investment and fiduciary services through its affiliated offerings.

Founded in 1975, Tri Counties Bank has developed a community-banking presence across Northern and Central California.