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

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six ratings firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $47.80.

TCBK has been the topic of several research reports. Raymond James Financial dropped their price objective on shares of TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Stephens restated an "overweight" rating and set a $47.00 price target on shares of TriCo Bancshares in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their price objective on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a research report on Monday, April 28th.

TriCo Bancshares Stock Performance

TCBK traded down $0.62 during midday trading on Friday, reaching $42.44. The company's stock had a trading volume of 95,924 shares, compared to its average volume of 115,301. The stock has a market cap of $1.39 billion, a P/E ratio of 12.37 and a beta of 0.60. The company has a fifty day simple moving average of $40.52 and a 200 day simple moving average of $41.17. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. TriCo Bancshares has a twelve month low of $35.20 and a twelve month high of $51.06.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. The firm had revenue of $98.62 million for the quarter, compared to analyst estimates of $99.59 million. TriCo Bancshares had a return on equity of 9.28% and a net margin of 21.41%. Research analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Friday, June 6th. TriCo Bancshares's dividend payout ratio is 38.48%.

Institutional Investors Weigh In On TriCo Bancshares

Large investors have recently modified their holdings of the stock. Abound Financial LLC bought a new position in shares of TriCo Bancshares during the 1st quarter worth approximately $36,000. Sterling Capital Management LLC lifted its position in shares of TriCo Bancshares by 800.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider's stock worth $44,000 after buying an additional 896 shares during the period. CWM LLC lifted its position in shares of TriCo Bancshares by 59.2% during the 1st quarter. CWM LLC now owns 1,116 shares of the financial services provider's stock worth $45,000 after buying an additional 415 shares during the period. KBC Group NV bought a new position in shares of TriCo Bancshares during the 1st quarter worth approximately $61,000. Finally, Aquatic Capital Management LLC lifted its position in shares of TriCo Bancshares by 129.5% during the 4th quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock worth $100,000 after buying an additional 1,295 shares during the period. 59.11% of the stock is currently owned by institutional investors.

About TriCo Bancshares

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.