TriCo Bancshares (NASDAQ:TCBK) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• TriCo Bancshares has a consensus analyst rating of “Hold”, with six of seven analysts rating it a hold and one a buy. The average 12-month price target is $56.40.
• Several recent analyst moves were mixed, including price-target increases and cuts, but the overall tone was cautious. DA Davidson raised its target to $66 while Stephens, Piper Sandler, and Raymond James all downgraded the stock.
• The company recently reported quarterly EPS of $1.03 on revenue of $111.21 million, and it paid a quarterly dividend of $0.36 per share, equal to a 2.4% annualized yield.

Shares of TriCo Bancshares (NASDAQ:TCBK - Get Free Report) have earned an average recommendation of "Hold" from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $56.40.

TCBK has been the subject of a number of recent analyst reports. DA Davidson upped their price objective on TriCo Bancshares from $55.00 to $66.00 and gave the stock a "neutral" 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 Wednesday, July 8th. Stephens cut TriCo Bancshares from an "overweight" rating to an "equal weight" rating and set a $54.00 price target on the stock. in a report on Wednesday, July 15th. Piper Sandler downgraded TriCo Bancshares from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $63.00 to $61.00 in a research note on Tuesday, July 14th. Finally, Raymond James Financial downgraded TriCo Bancshares from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 14th.

TriCo Bancshares Stock Down 1.2%

TCBK opened at $59.80 on Tuesday. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 15.14 and a beta of 0.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.87. The firm's fifty day moving average is $52.66 and its 200 day moving average is $50.39. TriCo Bancshares has a fifty-two week low of $39.84 and a fifty-two week high of $61.71.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $111.21 million during the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%. On average, sell-side analysts forecast that TriCo Bancshares will post 4.22 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, June 5th. TriCo Bancshares's payout ratio is 36.46%.

Hedge Funds Weigh In On TriCo Bancshares

Institutional investors have recently bought and sold shares of the stock. North Reef Capital Management LP purchased a new stake in shares of TriCo Bancshares in the fourth quarter worth about $22,994,000. Mercer Global Advisors Inc. ADV purchased a new position in TriCo Bancshares during the 3rd quarter valued at approximately $6,972,000. Millennium Management LLC increased its stake in TriCo Bancshares by 292.7% in the 3rd quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider's stock worth $6,009,000 after acquiring an additional 100,858 shares during the last quarter. Rice Hall James & Associates LLC bought a new stake in TriCo Bancshares in the 1st quarter worth approximately $4,527,000. Finally, FJ Capital Management LLC bought a new stake in TriCo Bancshares in the 4th quarter worth approximately $4,381,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Company Profile

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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