TriCo Bancshares (NASDAQ:TCBK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK) have been given an average recommendation of “Moderate Buy” by the four research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $42.00.

A number of brokerages recently commented on TCBK. StockNews.com upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a research report on Friday.

TriCo Bancshares Trading Down 1.2 %

Shares of NASDAQ TCBK traded down $0.57 during mid-day trading on Friday, hitting $47.38. The company’s stock had a trading volume of 23,664 shares, compared to its average volume of 118,437. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 14.56 and a beta of 0.56. The company’s fifty day simple moving average is $39.04 and its 200-day simple moving average is $36.87. TriCo Bancshares has a one year low of $29.38 and a one year high of $48.80.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The firm had revenue of $97.86 million during the quarter, compared to analyst estimates of $98.55 million. TriCo Bancshares had a net margin of 21.25% and a return on equity of 9.75%. On average, sell-side analysts anticipate that TriCo Bancshares will post 3.21 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a $0.33 dividend. The ex-dividend date was Friday, June 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.79%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 40.24%.

Insider Activity at TriCo Bancshares

In other TriCo Bancshares news, EVP Craig B. Carney sold 757 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $38.00, for a total transaction of $28,766.00. Following the completion of the transaction, the executive vice president now owns 32,325 shares in the company, valued at approximately $1,228,350. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.64% of the stock is owned by insiders.

Hedge Funds Weigh In On TriCo Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in TCBK. Mutual of America Capital Management LLC lifted its stake in shares of TriCo Bancshares by 17.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 138,616 shares of the financial services provider’s stock worth $5,098,000 after buying an additional 20,629 shares during the last quarter. BNP Paribas Financial Markets lifted its position in TriCo Bancshares by 200.3% during the first quarter. BNP Paribas Financial Markets now owns 24,384 shares of the financial services provider’s stock worth $897,000 after acquiring an additional 16,263 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of TriCo Bancshares by 58.5% during the first quarter. Russell Investments Group Ltd. now owns 98,469 shares of the financial services provider’s stock worth $3,622,000 after acquiring an additional 36,362 shares during the period. American Century Companies Inc. grew its position in shares of TriCo Bancshares by 30.2% in the third quarter. American Century Companies Inc. now owns 151,451 shares of the financial services provider’s stock valued at $4,851,000 after purchasing an additional 35,159 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of TriCo Bancshares by 135.1% during the first quarter. Empowered Funds LLC now owns 46,554 shares of the financial services provider’s stock worth $1,712,000 after purchasing an additional 26,751 shares during the period. 59.11% of the stock is owned by institutional investors.

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.