TriCo Bancshares (NASDAQ:TCBK) Sees Large Volume Increase on Analyst Upgrade

Shares of TriCo Bancshares (NASDAQ:TCBK) saw strong trading volume on Tuesday after DA Davidson raised their price target on the stock from $55.00 to $66.00. DA Davidson currently has a neutral rating on the stock. Approximately 282,272 shares changed hands during trading, an increase of 66% from the previous session’s volume of 169,871 shares.The stock last traded at $59.39 and had previously closed at $60.07.

Other equities research analysts have also issued reports about the stock. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Piper Sandler cut shares of TriCo Bancshares from an “overweight” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research report on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of TriCo Bancshares in a report on Wednesday, July 8th. Finally, Raymond James Financial cut TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.60.

TriCo Bancshares News Roundup

Here are the key news stories impacting TriCo Bancshares this week:

• Positive Sentiment: First Hawaiian agreed to buy TriCo Bancshares in an all-stock deal. The transaction creates a larger Pacific banking franchise and gives TriCo shareholders a clear exit value, which typically supports the stock. Article: TriCo Bancshares (TCBK) Stock Jumps 12%: Here's Why the Stock Is Trending Today
• Positive Sentiment: DA Davidson raised its price target on TriCo Bancshares to $66 from $55. While the firm kept a neutral rating, the higher target suggests the shares may still have some upside relative to recent trading levels. Article: TriCo Bancshares price target raised by DA Davidson
• Neutral Sentiment: Analysts and market commentators are debating whether the stock is fully valued after the deal announcement. Some coverage framed the move as a valuation question rather than a fresh catalyst, which may limit additional near-term enthusiasm. Article: TriCo Bancshares (TCBK) Agreed To A $2b Deal, Is The Stock Above Fair Value?
• Negative Sentiment: Law firms and shareholder groups have launched investigations into whether the sale price is fair. These challenges can add uncertainty around the transaction process and keep some pressure on the shares. Article: Shareholder Alert: Ademi LLP investigates whether TriCo Bancshares is obtaining a Fair Price for Public Shareholders

Hedge Funds Weigh In On TriCo Bancshares

A number of large investors have recently added to or reduced their stakes in TCBK. Fermata Advisors LLC acquired a new stake in shares of TriCo Bancshares in the 2nd quarter valued at about $209,000. Parallel Advisors LLC lifted its holdings in shares of TriCo Bancshares by 88.5% in the first quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 676 shares in the last quarter. Bank of America Corp DE boosted its position in shares of TriCo Bancshares by 39.4% during the first quarter. Bank of America Corp DE now owns 86,742 shares of the financial services provider’s stock worth $4,124,000 after buying an additional 24,500 shares during the period. California State Teachers Retirement System boosted its position in shares of TriCo Bancshares by 13.3% during the first quarter. California State Teachers Retirement System now owns 32,720 shares of the financial services provider’s stock worth $1,556,000 after buying an additional 3,837 shares during the period. Finally, Quantinno Capital Management LP boosted its position in shares of TriCo Bancshares by 22.8% during the first quarter. Quantinno Capital Management LP now owns 10,836 shares of the financial services provider’s stock worth $515,000 after buying an additional 2,014 shares during the period. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.89 billion, a P/E ratio of 14.98 and a beta of 0.60. The stock has a fifty day moving average of $51.72 and a 200-day moving average of $49.97.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Monday, March 2nd. The financial services provider reported $1.03 EPS for the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%.The firm had revenue of $111.21 million for the quarter. On average, research analysts anticipate that TriCo Bancshares will post 4.22 EPS for the current year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, June 5th. This represents a $1.44 annualized dividend and a yield of 2.4%. TriCo Bancshares’s dividend payout ratio is presently 36.46%.

TriCo Bancshares Company Profile

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.