Brokerages Set TriCo Bancshares (NASDAQ:TCBK) Price Target at $53.80

by · The Markets Daily

TriCo Bancshares (NASDAQ:TCBK – Get Free Report) has received a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $53.80.

Several research firms recently commented on TCBK. Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TriCo Bancshares in a report on Monday, December 29th. Keefe, Bruyette & Woods boosted their target price on shares of TriCo Bancshares from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, January 26th. DA Davidson raised their price target on shares of TriCo Bancshares from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Finally, Stephens lifted their price objective on shares of TriCo Bancshares from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, January 26th.

View Our Latest Stock Analysis on TCBK

Hedge Funds Weigh In On TriCo Bancshares

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of TriCo Bancshares by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 1,922,988 shares of the financial services provider’s stock valued at $91,092,000 after buying an additional 38,311 shares in the last quarter. Franklin Resources Inc. grew its stake in TriCo Bancshares by 7.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,725,857 shares of the financial services provider’s stock valued at $69,880,000 after acquiring an additional 126,571 shares during the period. Dimensional Fund Advisors LP increased its holdings in TriCo Bancshares by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,683,048 shares of the financial services provider’s stock worth $74,744,000 after acquiring an additional 14,748 shares in the last quarter. Davis Asset Management L.P. raised its position in TriCo Bancshares by 2.6% during the second quarter. Davis Asset Management L.P. now owns 1,046,900 shares of the financial services provider’s stock worth $42,389,000 after acquiring an additional 26,100 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of TriCo Bancshares by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 777,826 shares of the financial services provider’s stock valued at $36,851,000 after purchasing an additional 6,793 shares during the period. Hedge funds and other institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Trading Up 0.9%

Shares of TriCo Bancshares stock opened at $49.67 on Friday. The stock has a market cap of $1.61 billion, a PE ratio of 13.39 and a beta of 0.64. The firm has a fifty day moving average price of $49.51 and a 200 day moving average price of $46.68. TriCo Bancshares has a 1 year low of $35.20 and a 1 year high of $53.18. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK – Get Free Report) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.01 by $0.02. The company had revenue of $109.40 million for the quarter, compared to analyst estimates of $108.19 million. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.53%. Equities research analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, March 6th. TriCo Bancshares’s payout ratio is currently 38.81%.

TriCo Bancshares Company Profile

(Get Free Report)

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.

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