Analysts Set TriCo Bancshares (NASDAQ:TCBK) Price Target at $48.20

Shares of TriCo Bancshares (NASDAQ:TCBK) have earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $48.20.

Several brokerages have issued reports on TCBK. DA Davidson lowered TriCo Bancshares from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $50.00 to $53.00 in a research note on Tuesday, November 12th. Stephens dropped their target price on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, Piper Sandler reduced their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th.

TriCo Bancshares Price Performance

TriCo Bancshares stock opened at $44.03 on Monday. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 13.10 and a beta of 0.56. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $46.39 and a 200 day simple moving average of $43.70. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The firm had revenue of $133.84 million for the quarter, compared to analyst estimates of $98.65 million. On average, research analysts forecast that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.33 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a yield of 3.00%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 39.29%.

Insider Activity

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total value of $252,297.00. Following the sale, the director now owns 6,128 shares of the company’s stock, valued at $303,152.16. This trade represents a 45.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.64% of the company’s stock.

Institutional Trading of TriCo Bancshares

A number of institutional investors have recently modified their holdings of TCBK. Assenagon Asset Management S.A. increased its holdings in TriCo Bancshares by 839.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock valued at $5,577,000 after purchasing an additional 116,838 shares during the period. American Century Companies Inc. increased its stake in shares of TriCo Bancshares by 27.3% during the second quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock valued at $15,975,000 after buying an additional 86,689 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of TriCo Bancshares by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after buying an additional 50,358 shares during the period. Barclays PLC raised its holdings in shares of TriCo Bancshares by 127.0% during the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock valued at $2,468,000 after acquiring an additional 32,379 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted 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 worth $19,041,000 after acquiring an additional 25,817 shares during the period. 59.11% of the stock is currently owned by hedge funds and other 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.