TriCo Bancshares (NASDAQ:TCBK) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

TriCo Bancshares (NASDAQ:TCBK)’s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $52.96 and traded as high as $53.20. TriCo Bancshares shares last traded at $53.02, with a volume of 1,351,772 shares traded.

Analysts Set New Price Targets

TCBK has been the subject of several research analyst reports. Piper Sandler downgraded shares of TriCo Bancshares from a “neutral” rating to a “hold” rating in a research report on Monday. Stephens upgraded shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research note on Friday, October 2nd. DA Davidson reissued a “neutral” rating and set a $55.00 target price on shares of TriCo Bancshares in a research note on Tuesday. Finally, Raymond James Financial lowered TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.62.

TriCo Bancshares Trading Up 0.6%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The company has a 50 day simple moving average of $52.96 and a two-hundred day simple moving average of $51.91. The company has a market cap of $1.70 billion, a PE ratio of 12.30 and a beta of 0.66.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.09. The company had revenue of $116.71 million for the quarter, compared to the consensus estimate of $114.63 million. TriCo Bancshares had a return on equity of 10.47% and a net margin of 25.10%. Sell-side analysts forecast that TriCo Bancshares will post 4.34 EPS for the current year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 16th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.44 dividend on an annualized basis and a yield of 2.7%. TriCo Bancshares’s payout ratio is presently 33.41%.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in TriCo Bancshares in the 2nd quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of TriCo Bancshares during the 2nd quarter worth about $36,000. Parallel Advisors LLC raised its stake in shares of TriCo Bancshares by 88.5% during the 1st quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 676 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of TriCo Bancshares by 69.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,964 shares of the financial services provider’s stock valued at $101,000 after buying an additional 802 shares during the last quarter. Finally, Fermata Advisors LLC acquired a new stake in shares of TriCo Bancshares during the 2nd quarter valued at about $209,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

About TriCo Bancshares

TriCo Bancshares (NASDAQ: TCBK) is a bank holding company headquartered in Chico, California. Through its principal subsidiary, Tri Counties Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and public entities.

Tri Counties Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and other financial services.