Shares of TriCo Bancshares (NASDAQ:TCBK) have earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $40.50.
A number of equities research analysts have commented on the stock. BidaskClub cut shares of TriCo Bancshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 10th. Zacks Investment Research cut shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $45.00 price objective on shares of TriCo Bancshares in a report on Friday, December 22nd. ValuEngine upgraded shares of TriCo Bancshares from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Sandler O’Neill reiterated a “buy” rating and set a $44.00 price objective on shares of TriCo Bancshares in a report on Friday, March 23rd.
Several hedge funds and other institutional investors have recently modified their holdings of TCBK. Kavi Asset Management LP acquired a new position in shares of TriCo Bancshares during the fourth quarter valued at about $2,858,000. Penn Capital Management Co. Inc. purchased a new position in TriCo Bancshares during the fourth quarter worth about $2,009,000. Allianz Asset Management GmbH purchased a new position in TriCo Bancshares during the fourth quarter worth about $1,955,000. Dimensional Fund Advisors LP boosted its holdings in TriCo Bancshares by 3.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,114,530 shares of the financial services provider’s stock worth $45,417,000 after purchasing an additional 37,461 shares during the last quarter. Finally, Bailard Inc. purchased a new position in TriCo Bancshares during the fourth quarter worth about $1,382,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.
TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.08). The company had revenue of $57.57 million during the quarter, compared to analyst estimates of $58.45 million. TriCo Bancshares had a return on equity of 9.70% and a net margin of 17.52%. equities analysts predict that TriCo Bancshares will post 2.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 16th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Thursday, March 15th. TriCo Bancshares’s dividend payout ratio is currently 32.69%.
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TriCo Bancshares Company Profile
TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.
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