TriCo Bancshares (NASDAQ:TCBK) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Shares of TriCo Bancshares (NASDAQ:TCBK) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $46.04 and traded as high as $52.51. TriCo Bancshares shares last traded at $51.49, with a volume of 95,866 shares traded.

Analyst Ratings Changes

TCBK has been the subject of a number of recent research reports. Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. DA Davidson increased their price objective on shares of TriCo Bancshares from $51.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Piper Sandler raised their price objective on shares of TriCo Bancshares from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Keefe, Bruyette & Woods upped their target price on shares of TriCo Bancshares from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, January 26th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $46.00 price target (up previously from $45.00) on shares of TriCo Bancshares in a research report on Friday, October 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.80.

TriCo Bancshares Trading Down 1.3%

The company’s fifty day moving average price is $49.29 and its two-hundred day moving average price is $46.04. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.67 billion, a P/E ratio of 13.88 and a beta of 0.64.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.02. The firm had revenue of $109.40 million during the quarter, compared to the consensus estimate of $108.19 million. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.53%. As a group, sell-side analysts predict that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, December 5th. TriCo Bancshares’s payout ratio is presently 38.81%.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC boosted its stake in TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 459 shares in the last quarter. Danske Bank A S bought a new position in shares of TriCo Bancshares in the fourth quarter valued at about $28,000. Farther Finance Advisors LLC lifted its position in TriCo Bancshares by 40.3% during the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after buying an additional 211 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in TriCo Bancshares during the 3rd quarter worth about $58,000. Finally, PNC Financial Services Group Inc. bought a new stake in TriCo Bancshares during the 3rd quarter worth about $76,000. 59.11% of the stock is owned by institutional investors and hedge funds.

About TriCo Bancshares

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.