TriCo Bancshares (NASDAQ:TCBK) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on TriCo Bancshares, with five hold ratings and two buys; the average 12-month price target is $56.60.
• Institutional investors and hedge funds own 59.11% of TCBK, with Vanguard holding approximately 1.92 million shares and UBS increasing its position by 14.1%.
• TriCo exceeded quarterly earnings expectations, reporting $1.06 in EPS versus the $1.03 consensus and $111.88 million in revenue. The company also pays a quarterly dividend of $0.36, representing a 2.5% yield.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) has earned an average recommendation of "Hold" from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $56.60.

TCBK has been the subject of several research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of TriCo Bancshares in a research report on Wednesday, July 8th. Stephens raised shares of TriCo Bancshares from an "equal weight" rating to an "overweight" rating in a report on Thursday, August 6th. Piper Sandler increased their price objective on shares of TriCo Bancshares from $61.00 to $63.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. DA Davidson reduced their price objective on shares of TriCo Bancshares from $66.00 to $65.00 and set a "neutral" rating for the company in a report on Monday, July 27th. Finally, Zacks Research lowered shares of TriCo Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th.

Institutional Investors Weigh In On TriCo Bancshares

A number of institutional investors have recently added to or reduced their stakes in TCBK. Hsbc Holdings PLC acquired a new position in shares of TriCo Bancshares in the 4th quarter worth approximately $815,000. Rice Hall James & Associates LLC acquired a new stake in TriCo Bancshares in the 1st quarter valued at $4,527,000. marrick wealth LLC acquired a new stake in TriCo Bancshares in the 4th quarter valued at $778,000. UBS Group AG grew its position in TriCo Bancshares by 14.1% in the fourth quarter. UBS Group AG now owns 92,320 shares of the financial services provider's stock valued at $4,373,000 after acquiring an additional 11,392 shares during the period. Finally, Vanguard Group Inc. grew its position in TriCo Bancshares by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 1,922,988 shares of the financial services provider's stock valued at $91,092,000 after acquiring an additional 38,311 shares during the period. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Trading Down 0.8%

TriCo Bancshares stock opened at $57.57 on Friday. The business has a 50 day moving average price of $55.64 and a two-hundred day moving average price of $51.62. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 13.81 and a beta of 0.60. TriCo Bancshares has a 12 month low of $40.44 and a 12 month high of $61.71.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.03. The company had revenue of $111.88 million for the quarter, compared to analyst estimates of $110.99 million. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%. As a group, equities analysts forecast that TriCo Bancshares will post 4.28 EPS for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, June 5th. TriCo Bancshares's dividend payout ratio is 34.53%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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