TriCo Bancshares (NASDAQ:TCBK) Receives $54.60 Consensus Target Price from Analysts

TriCo Bancshares (NASDAQ:TCBK) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $54.60.

TCBK has been the topic of several analyst reports. Piper Sandler boosted their target price on TriCo Bancshares from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Weiss Ratings raised TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Finally, Zacks Research raised TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its holdings in shares of TriCo Bancshares by 40.3% during the fourth quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 211 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of TriCo Bancshares by 17.7% during the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 290 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of TriCo Bancshares by 1.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 30,254 shares of the financial services provider’s stock valued at $1,433,000 after purchasing an additional 329 shares in the last quarter. Sweeney & Michel LLC lifted its holdings in shares of TriCo Bancshares by 0.3% during the first quarter. Sweeney & Michel LLC now owns 126,082 shares of the financial services provider’s stock valued at $6,318,000 after purchasing an additional 347 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of TriCo Bancshares by 337.5% during the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 459 shares in the last quarter. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Stock Performance

TriCo Bancshares stock opened at $50.69 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $49.79 and its two-hundred day simple moving average is $49.11. TriCo Bancshares has a 12 month low of $36.32 and a 12 month high of $53.18. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 12.83 and a beta of 0.60.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Monday, March 2nd. The financial services provider reported $1.03 EPS for the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%.The business had revenue of $111.21 million for the quarter. As a group, equities analysts predict that TriCo Bancshares will post 4.22 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, June 5th. TriCo Bancshares’s dividend payout ratio is presently 36.46%.

About TriCo Bancshares

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.