TriCo Bancshares (NASDAQ:TCBK) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts assign TriCo Bancshares an average rating of “Moderate Buy” (7 analysts: 1 strong buy, 4 buy, 2 hold) with a consensus 12‑month target of $54.60, and several firms recently raised targets (e.g., Piper Sandler to $63).
• TriCo trades around $50.80 with a market cap of $1.62B, a P/E of 12.86 and a 52‑week range of $36.32–$53.18; last quarter EPS was $1.03 and analysts forecast about 4.22 EPS for the year. The company pays a quarterly dividend of $0.36 (annualized $1.44) for a yield of 2.8% and a payout ratio of 36.46%.

Shares of TriCo Bancshares (NASDAQ:TCBK - Get Free Report) have received an average rating of "Moderate Buy" from the seven brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $54.60.

A number of equities research analysts recently issued reports on TCBK shares. DA Davidson upped their price target on shares of TriCo Bancshares from $51.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, January 23rd. Piper Sandler upped their price target on shares of TriCo Bancshares from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. Weiss Ratings raised shares of TriCo Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 25th. Zacks Research raised shares of TriCo Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Finally, Stephens upped their price target on shares of TriCo Bancshares from $54.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, January 26th.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in TCBK. Larson Financial Group LLC increased its position in TriCo Bancshares by 337.5% during the 3rd 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 during the period. Danske Bank A S acquired a new stake in TriCo Bancshares during the 4th quarter valued at approximately $28,000. Farther Finance Advisors LLC lifted its stake in TriCo Bancshares by 40.3% during the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 211 shares during the period. Abound Financial LLC acquired a new stake in TriCo Bancshares during the 4th quarter valued at approximately $43,000. Finally, State of Alaska Department of Revenue acquired a new stake in TriCo Bancshares during the 3rd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 59.11% of the company's stock.

TriCo Bancshares Price Performance

Shares of NASDAQ:TCBK opened at $50.80 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day moving average price of $48.64 and a 200 day moving average price of $48.16. TriCo Bancshares has a fifty-two week low of $36.32 and a fifty-two week high of $53.18. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 12.86 and a beta of 0.61.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its earnings results on Monday, March 2nd. The financial services provider reported $1.03 earnings per share for the quarter. The firm had revenue of $111.21 million during the quarter. TriCo Bancshares had a net margin of 23.71% and a return on equity of 9.92%. As a group, sell-side analysts expect that TriCo Bancshares will post 4.22 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.44 annualized dividend and a dividend yield of 2.8%. TriCo Bancshares's dividend payout ratio is currently 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.

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