TriCo Bancshares (NASDAQ:TCBK) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of TriCo Bancshares (NASDAQ:TCBK - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six ratings firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $47.80.

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

TriCo Bancshares Price Performance

Shares of TCBK stock traded down $0.51 on Friday, reaching $38.53. 49,636 shares of the company were exchanged, compared to its average volume of 117,003. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 11.14 and a beta of 0.53. TriCo Bancshares has a 1 year low of $34.42 and a 1 year high of $51.06. The business has a 50-day moving average price of $39.72 and a 200 day moving average price of $43.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86.

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 for the quarter, beating the consensus estimate of $0.78 by $0.02. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. The business had revenue of $98.62 million for the quarter, compared to the consensus estimate of $99.59 million. Equities research analysts forecast that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $0.33 per share. The ex-dividend date was Friday, March 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.43%. TriCo Bancshares's payout ratio is currently 38.48%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its holdings in TriCo Bancshares by 127.0% in the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider's stock valued at $2,468,000 after purchasing an additional 32,379 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in TriCo Bancshares by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider's stock valued at $19,041,000 after acquiring an additional 25,817 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in TriCo Bancshares by 23.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider's stock worth $7,035,000 after buying an additional 30,227 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of TriCo Bancshares by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider's stock worth $68,546,000 after buying an additional 37,191 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of TriCo Bancshares during the fourth quarter worth $1,818,000. Hedge funds and other institutional investors own 59.11% of the company's stock.

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.