TriCo Bancshares (NASDAQ:TCBK) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• TriCo Bancshares has been rated as a "Moderate Buy" by five brokerages, with an average 12-month price target of $47.60.
• The company reported quarterly earnings of $0.84 EPS, beating estimates, alongside a net margin of 21.11% and revenue of $103.61 million.
• TriCo Bancshares recently announced a quarterly dividend of $0.33 per share, resulting in an annualized yield of 3.2%.

Shares of TriCo Bancshares (NASDAQ:TCBK - Get Free Report) have been assigned an average rating of "Moderate Buy" from the five analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $47.60.

A number of research firms recently weighed in on TCBK. Raymond James Financial reaffirmed an "outperform" rating and issued a $45.00 price objective (up previously from $43.00) on shares of TriCo Bancshares in a report on Friday, July 25th. Piper Sandler lifted their price target on TriCo Bancshares from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Stephens reissued an "overweight" rating and issued a $47.00 price target on shares of TriCo Bancshares in a research note on Monday, April 28th. Keefe, Bruyette & Woods lowered their price objective on shares of TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Finally, DA Davidson boosted their price target on shares of TriCo Bancshares from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TCBK. Deutsche Bank AG lifted its position in TriCo Bancshares by 51.8% in the 4th quarter. Deutsche Bank AG now owns 30,525 shares of the financial services provider's stock worth $1,334,000 after buying an additional 10,422 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of TriCo Bancshares by 13.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,108 shares of the financial services provider's stock worth $3,151,000 after acquiring an additional 8,588 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in TriCo Bancshares by 591.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider's stock valued at $129,000 after purchasing an additional 2,524 shares during the last quarter. GAMMA Investing LLC boosted its position in TriCo Bancshares by 5,584.8% during the first quarter. GAMMA Investing LLC now owns 29,618 shares of the financial services provider's stock valued at $1,184,000 after purchasing an additional 29,097 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in TriCo Bancshares by 2.3% in the fourth quarter. Two Sigma Investments LP now owns 37,745 shares of the financial services provider's stock valued at $1,649,000 after purchasing an additional 855 shares in the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Stock Performance

Shares of NASDAQ:TCBK traded up $0.19 during trading on Tuesday, reaching $41.05. 20,497 shares of the company's stock traded hands, compared to its average volume of 104,924. The stock has a market capitalization of $1.35 billion, a P/E ratio of 12.06 and a beta of 0.64. TriCo Bancshares has a 12 month low of $35.20 and a 12 month high of $51.06. The company has a 50 day moving average of $41.19 and a 200-day moving average of $41.01. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.86 and a quick ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.02. The company had revenue of $103.61 million during the quarter, compared to the consensus estimate of $101.15 million. TriCo Bancshares had a return on equity of 9.04% and a net margin of 21.11%. On average, equities analysts expect that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, June 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.2%. TriCo Bancshares's payout ratio is currently 38.82%.

TriCo Bancshares Company Profile

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.