TriCo Bancshares (NASDAQ:TCBK) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on TriCo Bancshares, with five hold ratings and two buys; the average 12-month price target is $56.60.
• TriCo Bancshares exceeded quarterly expectations, reporting $1.06 in EPS versus the $1.03 consensus and revenue of $111.88 million versus $110.99 million expected.
• The company declared a quarterly dividend of $0.36 per share, equivalent to $1.44 annually and a 2.7% yield; institutional investors and hedge funds own 59.11% of the stock.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) has received a consensus rating of "Hold" from the seven brokerages that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $56.60.

Several research analysts have commented on the stock. Weiss Ratings restated a "buy (b)" rating on shares of TriCo Bancshares in a research report on Wednesday, July 8th. Zacks Research lowered TriCo Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 5th. Piper Sandler boosted their price target on TriCo Bancshares from $61.00 to $63.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Raymond James Financial downgraded TriCo Bancshares from an "outperform" rating to a "market perform" rating in a research report on Tuesday, July 14th. Finally, Stephens raised TriCo Bancshares from an "equal weight" rating to an "overweight" rating in a research note on Thursday, August 6th.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new position in TriCo Bancshares during the 2nd quarter worth approximately $26,000. Larson Financial Group LLC boosted its position in TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider's stock valued at $26,000 after buying an additional 459 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of TriCo Bancshares during the second quarter worth $36,000. Abound Financial LLC acquired a new position in shares of TriCo Bancshares during the fourth quarter worth $43,000. Finally, Parallel Advisors LLC lifted its stake 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 acquiring an additional 676 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Price Performance

TCBK stock opened at $53.97 on Wednesday. The company's 50-day moving average price is $56.44 and its two-hundred day moving average price is $52.09. The firm has a market cap of $1.73 billion, a P/E ratio of 12.94 and a beta of 0.59. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. TriCo Bancshares has a 12 month low of $40.44 and a 12 month high of $61.71.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 24.67% and a return on equity of 10.23%. On average, analysts anticipate that TriCo Bancshares will post 4.28 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. TriCo Bancshares's dividend payout ratio is 34.53%.

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.

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