Stephens Issues Pessimistic Forecast for TriCo Bancshares (NASDAQ:TCBK) Stock Price

TriCo Bancshares (NASDAQ:TCBK) had its price objective lowered by Stephens from $52.00 to $50.00 in a research report released on Tuesday morning, Benzinga reports. Stephens currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on TCBK. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $48.00 target price (up previously from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. DA Davidson increased their price objective on TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Piper Sandler dropped their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Janney Montgomery Scott reiterated a “neutral” rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, TriCo Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $48.60.

TriCo Bancshares Stock Performance

Shares of TCBK stock opened at $42.73 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average of $43.34 and a 200 day moving average of $40.59. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.72 and a beta of 0.54. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $48.80.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.60%. The firm had revenue of $133.84 million for the quarter, compared to analyst estimates of $98.65 million. As a group, research analysts expect that TriCo Bancshares will post 3.37 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The company also recently declared 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 3.09%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s payout ratio is 39.29%.

Insider Buying and Selling

In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $43.11, for a total transaction of $149,376.15. Following the transaction, the director now owns 11,228 shares in the company, valued at approximately $484,039.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $43.11, for a total transaction of $149,376.15. Following the completion of the sale, the director now directly owns 11,228 shares in the company, valued at approximately $484,039.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael W. Koehnen sold 1,400 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $135,600. This trade represents 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 owned by corporate insiders.

Hedge Funds Weigh In On TriCo Bancshares

Several institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its stake in shares of TriCo Bancshares by 8.2% during the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 287 shares during the period. ProShare Advisors LLC increased its stake in TriCo Bancshares by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock worth $205,000 after buying an additional 439 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of TriCo Bancshares during the first quarter worth about $227,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TriCo Bancshares by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 758 shares during the period. Finally, Principal Financial Group Inc. raised its stake in TriCo Bancshares by 36.2% during the 1st quarter. Principal Financial Group Inc. now owns 13,005 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 3,460 shares during the period. Institutional investors own 59.11% of the company’s stock.

About TriCo Bancshares

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.