TriCo Bancshares (NASDAQ:TCBK) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

TriCo Bancshares (NASDAQ:TCBK) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $47.03 and traded as high as $47.21. TriCo Bancshares shares last traded at $46.95, with a volume of 221,430 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TCBK shares. Piper Sandler boosted their price target on TriCo Bancshares from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Keefe, Bruyette & Woods increased their price objective on TriCo Bancshares from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday, January 26th. Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. DA Davidson increased their price target on TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Finally, Weiss Ratings upgraded shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

TriCo Bancshares Trading Down 0.8%

The company has a market cap of $1.51 billion, a price-to-earnings ratio of 12.66 and a beta of 0.63. The business has a fifty day simple moving average of $49.41 and a 200 day simple moving average of $47.03. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04.

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 analysts’ consensus estimates of $1.01 by $0.02. The business 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 9.43%. On average, equities analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.44 annualized dividend and a dividend yield of 3.1%. TriCo Bancshares’s payout ratio is 38.81%.

Hedge Funds Weigh In On TriCo Bancshares

Several hedge funds have recently bought and sold shares of TCBK. Mercer Global Advisors Inc. ADV boosted its position in TriCo Bancshares by 3.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 162,047 shares of the financial services provider’s stock worth $7,676,000 after purchasing an additional 5,055 shares in the last quarter. State of Tennessee Department of Treasury acquired a new position in shares of TriCo Bancshares during the 4th quarter worth $164,000. Man Group plc purchased a new stake in shares of TriCo Bancshares in the 4th quarter worth about $294,000. Engineers Gate Manager LP acquired a new stake in TriCo Bancshares in the 4th quarter valued at about $336,000. Finally, AQR Capital Management LLC increased its holdings in TriCo Bancshares by 24.1% during the 4th quarter. AQR Capital Management LLC now owns 127,820 shares of the financial services provider’s stock valued at $6,055,000 after acquiring an additional 24,794 shares in the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

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.