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; commercial loans, including agricultural loans; and real estate construction loans. In addition, the company offers treasury management services; and other customary banking services, including safe deposit boxes; and independent financial and broker-dealer services. It operates 61 traditional branches, 7 in-store branches, and 7 loan production offices in 31 counties throughout California. The company was founded in 1975 and is headquartered in Chico, California.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on TCBK. Raymond James increased their price target on shares of TriCo Bancshares from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, July 7th. Stephens raised shares of TriCo Bancshares from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $46.00 to $48.00 in a report on Wednesday, May 11th. Janney Montgomery Scott raised shares of TriCo Bancshares from a "neutral" rating to a "buy" rating and set a $49.00 price objective for the company in a report on Tuesday, May 3rd. Finally, Piper Sandler raised their price objective on shares of TriCo Bancshares to $56.00 in a report on Monday, July 4th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $49.60.
TriCo Bancshares Price Performance
TCBK traded up $0.35 during midday trading on Friday, hitting $46.16. The company had a trading volume of 75,697 shares, compared to its average volume of 79,394. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $1.56 billion, a PE ratio of 13.34 and a beta of 0.50. TriCo Bancshares has a twelve month low of $37.41 and a twelve month high of $48.00. The firm's 50-day simple moving average is $45.91 and its 200-day simple moving average is $43.30.
TriCo Bancshares (NASDAQ:TCBK - Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.06). TriCo Bancshares had a return on equity of 10.42% and a net margin of 29.83%. Equities research analysts predict that TriCo Bancshares will post 3.89 EPS for the current fiscal year.
TriCo Bancshares Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Thursday, June 9th. TriCo Bancshares's payout ratio is 28.90%.
Insider Buying and Selling
In other TriCo Bancshares news, Director Cory W. Giese sold 2,500 shares of TriCo Bancshares stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $42.00, for a total value of $105,000.00. Following the transaction, the director now owns 9,503 shares of the company's stock, valued at $399,126. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.10% of the stock is owned by insiders.