Shares of TriCo Bancshares (NASDAQ:TCBK) have been assigned a consensus broker rating score of 2.50 (Hold) from the four brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. TriCo Bancshares’ rating score has declined by 25% in the last three months as a result of various analysts’ upgrades and downgrades.
Analysts have set a 12-month consensus target price of $29.00 for the company and are forecasting that the company will post $0.48 earnings per share for the current quarter, according to Zacks. Zacks has also assigned TriCo Bancshares an industry rank of 107 out of 265 based on the ratings given to related companies.
TCBK has been the topic of a number of recent research reports. Zacks Investment Research upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Keefe, Bruyette & Woods cut TriCo Bancshares from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $30.00 to $29.00 in a research note on Friday, July 29th. Finally, FIG Partners cut TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 2nd.
Shares of TriCo Bancshares (NASDAQ:TCBK) opened at 26.00 on Tuesday. The firm’s 50-day moving average price is $26.69 and its 200 day moving average price is $26.84. TriCo Bancshares has a one year low of $23.47 and a one year high of $29.65. The stock has a market cap of $593.37 million, a P/E ratio of 13.54 and a beta of 1.06.
TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.10. TriCo Bancshares had a return on equity of 9.65% and a net margin of 20.72%. Equities research analysts expect that TriCo Bancshares will post $1.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, September 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.31%. TriCo Bancshares’s dividend payout ratio (DPR) is 31.09%.
In other TriCo Bancshares news, EVP Craig B. Carney sold 4,679 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $27.01, for a total value of $126,379.79. Following the completion of the sale, the executive vice president now directly owns 10,288 shares in the company, valued at $277,878.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.60% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. Huntington Asset Advisors Inc. purchased a new stake in TriCo Bancshares during the first quarter worth $149,000. Paloma Partners Management Co purchased a new stake in TriCo Bancshares during the second quarter worth $204,000. KCG Holdings Inc. purchased a new stake in TriCo Bancshares during the second quarter worth $223,000. BlackRock Inc. increased its stake in TriCo Bancshares by 422.9% in the second quarter. BlackRock Inc. now owns 9,119 shares of the financial services provider’s stock worth $252,000 after buying an additional 7,375 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in TriCo Bancshares by 55.7% in the second quarter. O Shaughnessy Asset Management LLC now owns 10,097 shares of the financial services provider’s stock worth $279,000 after buying an additional 3,613 shares during the period. Hedge funds and other institutional investors own 66.43% of the company’s stock.
TriCo Bancshares Company Profile
TriCo Bancshares is the bank holding company of Tri Counties Bank (the Bank). The Company operates through community banking segment. The Bank is engaged in the general commercial banking business in approximately 30 counties in Northern and Central California. The Bank operates from over 50 traditional branches and over 10 in-store branches.