TriCo Bancshares (NASDAQ:TCBK – Get Free Report) has received a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $49.80.
A number of brokerages have recently weighed in on TCBK. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. Stephens boosted their price objective on TriCo Bancshares from $43.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. DA Davidson raised their target price on TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Janney Montgomery Scott reiterated a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Finally, Piper Sandler lifted their price objective on shares of TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.
View Our Latest Report on TCBK
TriCo Bancshares Stock Up 4.0 %
TriCo Bancshares (NASDAQ:TCBK – Get Free Report) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%. The business had revenue of $97.86 million for the quarter, compared to analyst estimates of $98.55 million. Analysts forecast that TriCo Bancshares will post 3.31 earnings per share for the current year.
TriCo Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, September 6th. TriCo Bancshares’s dividend payout ratio is presently 38.82%.
Insider Buying and Selling
In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the sale, the director now owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Cory W. Giese sold 3,465 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the sale, the director now directly owns 11,228 shares in the company, valued at $484,039.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the transaction, the director now owns 3,000 shares in the company, valued at $135,600. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of TriCo Bancshares by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after purchasing an additional 50,358 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of TriCo Bancshares by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock valued at $15,975,000 after acquiring an additional 86,689 shares during the last quarter. RMB Capital Management LLC boosted its holdings in TriCo Bancshares by 0.3% during the 4th quarter. RMB Capital Management LLC now owns 317,496 shares of the financial services provider’s stock valued at $13,643,000 after acquiring an additional 840 shares during the period. Heartland Advisors Inc. grew its position in TriCo Bancshares by 25.0% during the 1st quarter. Heartland Advisors Inc. now owns 250,000 shares of the financial services provider’s stock worth $9,195,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in TriCo Bancshares by 8.9% in the 2nd quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider’s stock worth $9,333,000 after purchasing an additional 19,224 shares during the period. 59.11% of the stock is currently owned by hedge funds and other institutional investors.
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.
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