TriCo Bancshares (NASDAQ:TCBK) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analyst consensus is “Hold” for TriCo Bancshares, with five hold ratings and two buys. The average 12-month price target is $55.62, modestly above the reported $53.02 share price.
• TriCo exceeded quarterly expectations, reporting $1.18 in EPS versus the $1.09 consensus estimate and revenue of $116.71 million versus $114.63 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 own 59.11% of the stock.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) has earned a consensus rating of "Hold" from the seven analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $55.62.

Several research analysts have issued reports on TCBK shares. DA Davidson restated a "neutral" rating and set a $55.00 target price on shares of TriCo Bancshares in a research report on Tuesday. Raymond James Financial lowered TriCo Bancshares from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 14th. Weiss Ratings reissued a "buy (b)" rating on shares of TriCo Bancshares in a research note on Friday, October 2nd. Stephens upgraded TriCo Bancshares from an "equal weight" rating to an "overweight" rating in a report on Thursday, August 6th. Finally, Piper Sandler downgraded TriCo Bancshares from a "neutral" rating to a "hold" rating in a research report on Monday.

TriCo Bancshares Trading Up 0.6%

Shares of TCBK opened at $53.02 on Thursday. TriCo Bancshares has a twelve month low of $43.08 and a twelve month high of $61.71. The company has a market cap of $1.70 billion, a P/E ratio of 12.30 and a beta of 0.66. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The company's fifty day simple moving average is $52.96 and its 200-day simple moving average is $51.91.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.09. The firm had revenue of $116.71 million during the quarter, compared to analysts' expectations of $114.63 million. TriCo Bancshares had a net margin of 25.10% and a return on equity of 10.47%. As a group, analysts expect that TriCo Bancshares will post 4.34 EPS for the current year.

TriCo Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, November 16th. TriCo Bancshares's payout ratio is currently 33.41%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its holdings in TriCo Bancshares by 69.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,964 shares of the financial services provider's stock worth $101,000 after purchasing an additional 802 shares during the period. Squarepoint Ops LLC raised its holdings in shares of TriCo Bancshares by 85.3% in the second quarter. Squarepoint Ops LLC now owns 20,777 shares of the financial services provider's stock valued at $1,119,000 after acquiring an additional 9,562 shares in the last quarter. Allworth Financial LP lifted its stake in TriCo Bancshares by 1.7% in the second quarter. Allworth Financial LP now owns 129,979 shares of the financial services provider's stock worth $6,999,000 after acquiring an additional 2,134 shares during the period. Round Rock Advisors LLC purchased a new stake in TriCo Bancshares in the second quarter worth about $360,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of TriCo Bancshares during the second quarter valued at approximately $260,000. 59.11% of the stock is currently owned by institutional investors.

TriCo Bancshares Company Profile

TriCo Bancshares NASDAQ: TCBK is a bank holding company headquartered in Chico, California. Through its principal subsidiary, Tri Counties Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and public entities.

Tri Counties Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and other financial services.

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