Fintel reports that on April 6, 2023,
Keefe, Bruyette & Woods
maintained
coverage of TriCo Bancshares (NASDAQ:TCBK) with
a Market Perform recommendation.
Analyst Price Forecast Suggests 40.11% Upside
As of April 6, 2023,
the average one-year price target for TriCo Bancshares is $57.46.
The forecasts range from a low of $52.52 to a high of $65.10.
The average price target represents an increase of 40.11% from its latest reported closing price of $41.01.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for TriCo Bancshares
is $473MM, an increase of 20.87%.
The projected annual non-GAAP EPS
is $4.74.
TriCo Bancshares Declares $0.30 Dividend
On March 6, 2023 the company declared a regular
quarterly dividend of $0.30 per share ($1.20 annualized).
Shareholders of record as of March 17, 2023
received the payment on March 24, 2023.
Previously, the company paid $0.30 per share.
At the current share price of $41.01 / share,
the stock’s dividend yield is 2.93%.
Looking back five years and taking a sample every week, the average dividend yield has been
2.33%,
the lowest has been 1.69%,
and the highest has been 3.63%.
The standard deviation of yields is 0.41 (n=236).
The current dividend yield is
1.45 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 0.32.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.36%,
demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
FSSNX – Fidelity Small Cap Index Fund
holds 259K shares
representing 0.78% ownership of the company.
In it’s prior filing, the firm reported owning 248K shares, representing
an increase
of 4.33%.
The firm
decreased
its portfolio allocation in TCBK by 16.46% over the last quarter.
Profunds – Profund Vp Ultrasmall-cap
holds 0K shares
representing 0.00% ownership of the company.
In it’s prior filing, the firm reported owning 0K shares, representing
an increase
of 3.73%.
The firm
increased
its portfolio allocation in TCBK by 9.71% over the last quarter.
Profunds – Profund Vp Small-cap
holds 0K shares
representing 0.00% ownership of the company.
No change in the last quarter.
Heartland Advisors
holds 200K shares
representing 0.60% ownership of the company.
No change in the last quarter.
Bnp Paribas Arbitrage
holds 7K shares
representing 0.02% ownership of the company.
In it’s prior filing, the firm reported owning 11K shares, representing
a decrease
of 62.74%.
The firm
decreased
its portfolio allocation in TCBK by 90.61% over the last quarter.
What is the Fund Sentiment?
There are 384 funds or institutions reporting positions in TriCo Bancshares.
This is an increase
of
8
owner(s) or 2.13% in the last quarter.
Average portfolio weight of all funds dedicated to TCBK is 0.21%,
a decrease
of 4.26%.
Total shares owned by institutions decreased
in the last three months by 5.51% to 24,999K shares.
The put/call ratio of TCBK is 0.61, indicating a
bullish
outlook.
Trico Bancshares Background Information
(This description is provided by the company.)
Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares headquartered in Chico, California, providing a unique brand of customer Service with Solutions available in traditional stand-alone and in-store bank branches in communities throughout Northern and Central California. Tri Counties Bank provides an extensive and competitive breadth of consumer, small business and commercial banking financial services, along with convenient around-the-clock ATM, online and mobile banking access. Brokerage services are provided by Tri Counties Advisors through affiliation with Raymond James Financial Services, Inc.
See all TriCo Bancshares regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
