Analysts Set TriCo Bancshares (NASDAQ:TCBK) Target Price at $50.75

TriCo Bancshares (NASDAQ:TCBK) has received an average recommendation of “Hold” from the five analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $50.75.

Separately, Keefe, Bruyette & Woods reduced their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 28th.

TriCo Bancshares Price Performance

Shares of TriCo Bancshares stock opened at $36.29 on Wednesday. The firm has a market cap of $1.20 billion, a PE ratio of 10.49 and a beta of 0.55. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $51.06. 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 moving average price of $42.40 and a 200 day moving average price of $43.94.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. Sell-side analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.32 annualized dividend and a dividend yield of 3.64%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 38.15%.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its position in shares of TriCo Bancshares by 591.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 2,524 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in TriCo Bancshares by 13.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,108 shares of the financial services provider’s stock worth $3,151,000 after buying an additional 8,588 shares during the last quarter. Squarepoint Ops LLC increased its position in TriCo Bancshares by 29.8% in the fourth quarter. Squarepoint Ops LLC now owns 6,309 shares of the financial services provider’s stock worth $276,000 after buying an additional 1,448 shares during the period. Two Sigma Investments LP lifted its stake in TriCo Bancshares by 2.3% in the fourth quarter. Two Sigma Investments LP now owns 37,745 shares of the financial services provider’s stock valued at $1,649,000 after buying an additional 855 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of TriCo Bancshares by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 9,011 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 2,965 shares during the period. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Company Profile

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.