TriCo Bancshares (NASDAQ:TCBK) Receives $47.80 Consensus Target Price from Analysts

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $47.80.

Several equities research analysts have commented on the stock. Stephens reaffirmed an "overweight" rating and issued a $47.00 target price on shares of TriCo Bancshares in a research note on Monday, April 28th. Raymond James Financial cut their price objective on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods lowered their target price on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a research note on Monday, April 28th.

Hedge Funds Weigh In On TriCo Bancshares

Several hedge funds have recently made changes to their positions in the business. FMR LLC grew its position in TriCo Bancshares by 18.1% in the fourth quarter. FMR LLC now owns 2,889,943 shares of the financial services provider's stock valued at $126,291,000 after purchasing an additional 443,858 shares in the last quarter. Vanguard Group Inc. raised its holdings in TriCo Bancshares by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,839,668 shares of the financial services provider's stock worth $73,532,000 after acquiring an additional 27,348 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in TriCo Bancshares by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider's stock valued at $71,436,000 after purchasing an additional 39,684 shares in the last quarter. Franklin Resources Inc. grew its stake in TriCo Bancshares by 2.4% in the fourth quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider's stock valued at $68,546,000 after purchasing an additional 37,191 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of TriCo Bancshares by 4.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider's stock worth $25,727,000 after purchasing an additional 27,193 shares during the last quarter. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Trading Up 0.7%

Shares of TCBK stock traded up $0.26 during trading hours on Monday, reaching $38.78. The company had a trading volume of 81,636 shares, compared to its average volume of 116,114. TriCo Bancshares has a 1-year low of $35.20 and a 1-year high of $51.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 11.31 and a beta of 0.61. The company has a 50 day moving average of $39.33 and a 200 day moving average of $41.81.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $98.62 million during 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%. On average, equities research analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, June 6th. TriCo Bancshares's dividend payout ratio is presently 38.48%.

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.