TriCo Bancshares (TCBK) Receives $43.33 Average PT from Brokerages

Shares of TriCo Bancshares (NASDAQ:TCBK) have earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $43.33.

TCBK has been the topic of several recent research reports. BidaskClub raised TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, September 8th. Zacks Investment Research raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, ValuEngine lowered TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Friday.

NASDAQ TCBK opened at $35.13 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.81 and a current ratio of 0.81. TriCo Bancshares has a twelve month low of $34.50 and a twelve month high of $43.79. The firm has a market cap of $1.17 billion, a P/E ratio of 16.89, a PEG ratio of 1.51 and a beta of 0.82.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.03. TriCo Bancshares had a return on equity of 10.38% and a net margin of 18.39%. The company had revenue of $58.04 million for the quarter, compared to the consensus estimate of $60.99 million. On average, analysts forecast that TriCo Bancshares will post 2.56 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, September 13th. TriCo Bancshares’s dividend payout ratio is currently 32.69%.

A number of large investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its position in TriCo Bancshares by 26.3% during the 3rd quarter. Bank of Montreal Can now owns 69,746 shares of the financial services provider’s stock worth $2,694,000 after purchasing an additional 14,531 shares during the last quarter. Northern Trust Corp raised its position in TriCo Bancshares by 1.1% during the 2nd quarter. Northern Trust Corp now owns 576,806 shares of the financial services provider’s stock worth $21,601,000 after purchasing an additional 6,511 shares during the last quarter. California Public Employees Retirement System raised its position in TriCo Bancshares by 15.5% during the 2nd quarter. California Public Employees Retirement System now owns 45,653 shares of the financial services provider’s stock worth $1,710,000 after purchasing an additional 6,112 shares during the last quarter. Millennium Management LLC raised its position in TriCo Bancshares by 159.6% during the 2nd quarter. Millennium Management LLC now owns 111,710 shares of the financial services provider’s stock worth $4,184,000 after purchasing an additional 68,680 shares during the last quarter. Finally, Zebra Capital Management LLC raised its position in TriCo Bancshares by 90.6% during the 2nd quarter. Zebra Capital Management LLC now owns 20,393 shares of the financial services provider’s stock worth $764,000 after purchasing an additional 9,693 shares during the last quarter. 53.74% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to retail customers and small to medium-sized businesses. It accepts demand, savings, and money market accounts, as well as time deposits; and provides residential and commercial real estate mortgage, consumer, commercial, agricultural, and real estate construction loans.

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Analyst Recommendations for TriCo Bancshares (NASDAQ:TCBK)

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