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TriCo Bancshares (NASDAQ:TCBK) Receives Consensus ‘Moderate Buy’ Rating from Analysts

By on August 11, 2022 0

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

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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

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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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Analyst Recommendations for TriCo Bancshares (NASDAQ: TCBK)

This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

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