TriCo Bancshares (NASDAQ: TCBK – Get a rating) received an average “moderate buy” rating from the six brokerages that currently cover the business, Marketbeat.com reports. One equity research analyst rated the stock with a hold recommendation and four gave the company a buy recommendation. The 12-month average price target among analysts who have rated the stock over the past year is $49.60.
A number of brokerages have recently published reports on TCBK. Piper Sandler raised her price target on shares of TriCo Bancshares to $56.00 in a Monday July 4 research note. Stephens downgraded TriCo Bancshares shares from an “equal weight” rating to an “overweight” rating and raised its price target for the stock from $46.00 to $48.00 in a report from the Wednesday May 11. Raymond James raised his price target on TriCo Bancshares shares from $44.00 to $48.00 and gave the company an “outperform” rating in a Thursday, July 7 research report. Finally, Janney Montgomery Scott upgraded TriCo Bancshares shares from a “neutral” rating to a “buy” rating and set a price target of $49.00 on the stock in a Tuesday, May 3 research report. .
Insiders place their bets
In other TriCo Bancshares news, Director Cory W. Giese sold 2,500 shares of the company in a trade that took place on Tuesday, May 17. The stock was sold at an average price of $42.00, for a total value of $105,000.00. Following the sale, the director now owns 9,503 shares of the company, valued at approximately $399,126. The transaction was disclosed in a legal filing with the SEC, available at the SEC website. Insiders hold 4.10% of the shares of the company.
Institutional investors weigh on TriCo Banc shares
Several hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC bought a new stock position in TriCo Bancshares during Q4, valued at around $26,000. Amalgamated Bank bought a new stock position in TriCo Bancshares during Q1 worth approximately $133,000. FinTrust Capital Advisors LLC increased its position in TriCo Bancshares shares by 13.5% during the second quarter. FinTrust Capital Advisors LLC now owns 3,280 shares of the financial services provider valued at $153,000 after buying an additional 390 shares last quarter. Teacher Retirement System of Texas increased its position in TriCo Bancshares shares by 18.5% during the 4th quarter. Teacher Retirement System of Texas now owns 5,699 shares of the financial services provider valued at $245,000 after buying 891 additional shares last quarter. Finally, ProShare Advisors LLC bought a new stock position in TriCo Bancshares during Q4 valued at approximately $259,000. Hedge funds and other institutional investors own 57.69% of the company’s shares.
TriCo Banc share price performance
Shares of NASDAQ TCBK opened at $46.91 on Thursday. TriCo Bancshares has a 12-month low of $37.41 and a 12-month high of $48.00. The company has a market capitalization of $1.59 billion, a PE ratio of 13.56 and a beta of 0.50. The company has a fifty-day simple moving average of $45.97 and a 200-day simple moving average of $43.36. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt ratio of 0.12.
TriCo Bancshares (NASDAQ: TCBK – Get a rating) last reported results on Wednesday, July 27. The financial services provider reported earnings per share of $0.93 for the quarter, missing analyst consensus estimates of $0.99 per ($0.06). TriCo Bancshares had a net margin of 29.83% and a return on equity of 10.42%. On average, sell-side analysts expect TriCo Bancshares to post EPS of 3.89 for the current year.
TriCo Bancshares Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 24. Investors of record on Friday, June 10 received a dividend of $0.25. The ex-dividend date was Thursday, June 9. This represents an annualized dividend of $1.00 and a yield of 2.13%. TriCo Bancshares’ dividend payout ratio (DPR) is currently 28.90%.
About TriCo Bancshares
TriCo Bancshares operates as a bank holding company for Tri Counties Bank which provides retail and corporate commercial banking services. The company accepts demand, savings and term 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 housing construction loans.
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