TriCo Bancshares (NASDAQ:TCBK) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of TriCo Bancshares (NASDAQ:TCBK) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $49.88 and traded as high as $53.74. TriCo Bancshares shares last traded at $53.64, with a volume of 110,305 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TCBK. Piper Sandler boosted their target price on shares of TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TriCo Bancshares in a research report on Wednesday. Finally, Zacks Research cut shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, TriCo Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $54.60.

TriCo Bancshares Stock Performance

The stock has a 50 day simple moving average of $51.52 and a 200 day simple moving average of $49.88. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.71 billion, a P/E ratio of 13.58 and a beta of 0.60.

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

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.44 annualized dividend and a yield of 2.7%. TriCo Bancshares’s dividend payout ratio is currently 36.46%.

Institutional Investors Weigh In On TriCo Bancshares

A number of large investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its position in shares of TriCo Bancshares by 28.9% in the 1st quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider’s stock valued at $1,307,000 after buying an additional 7,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in TriCo Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock valued at $760,000 after acquiring an additional 820 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in TriCo Bancshares by 4.4% in the first quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock valued at $25,727,000 after acquiring an additional 27,193 shares during the last quarter. Empowered Funds LLC raised its position in TriCo Bancshares by 8.4% during the first quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock valued at $2,047,000 after purchasing an additional 3,951 shares in the last quarter. Finally, Jane Street Group LLC raised its position in TriCo Bancshares by 280.1% during the first quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock valued at $1,977,000 after purchasing an additional 36,443 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

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.