StockNews.com upgraded shares of TriCo Bancshares (NASDAQ:TCBK - Free Report) from a sell rating to a hold rating in a report released on Tuesday morning.
Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods lowered their price objective on TriCo Bancshares from $44.00 to $42.00 and set a market perform rating on the stock in a research note on Friday, January 26th. Raymond James raised their price target on shares of TriCo Bancshares from $36.00 to $40.00 and gave the stock an outperform rating in a report on Friday, January 26th. Finally, DA Davidson cut their price objective on TriCo Bancshares from $49.00 to $45.00 and set a buy rating on the stock in a research report on Friday, January 26th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, TriCo Bancshares has an average rating of Moderate Buy and an average target price of $42.00.
Check Out Our Latest Analysis on TCBK
TriCo Bancshares Trading Down 0.0 %
NASDAQ TCBK traded down $0.01 during trading on Tuesday, reaching $34.77. 123,866 shares of the stock traded hands, compared to its average volume of 116,418. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 10.60 and a beta of 0.53. The stock's 50-day moving average price is $34.28 and its 200 day moving average price is $36.19. TriCo Bancshares has a fifty-two week low of $28.66 and a fifty-two week high of $45.84.
TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.02. The business had revenue of $131.19 million for the quarter, compared to analyst estimates of $99.50 million. TriCo Bancshares had a return on equity of 9.87% and a net margin of 21.25%. Analysts predict that TriCo Bancshares will post 3.23 EPS for the current year.
TriCo Bancshares Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.33 per share. This is a boost from TriCo Bancshares's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Thursday, March 7th. TriCo Bancshares's dividend payout ratio is presently 40.24%.
Institutional Investors Weigh In On TriCo Bancshares
Several institutional investors have recently made changes to their positions in TCBK. American Century Companies Inc. raised its position in shares of TriCo Bancshares by 30.2% during the 3rd quarter. American Century Companies Inc. now owns 151,451 shares of the financial services provider's stock valued at $4,851,000 after buying an additional 35,159 shares in the last quarter. Schroder Investment Management Group lifted its stake in TriCo Bancshares by 37.6% during the third quarter. Schroder Investment Management Group now owns 282,820 shares of the financial services provider's stock worth $9,059,000 after purchasing an additional 77,221 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of TriCo Bancshares in the 3rd quarter worth about $281,000. Mutual of America Capital Management LLC increased its position in shares of TriCo Bancshares by 15.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 117,987 shares of the financial services provider's stock valued at $5,070,000 after purchasing an additional 16,091 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in TriCo Bancshares by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,219 shares of the financial services provider's stock worth $10,513,000 after buying an additional 15,757 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company's stock.
About TriCo Bancshares
(
Get Free Report)
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.
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