TriCo Bancshares (NASDAQ:TCBK) Stock Price Breaks Below Fifty Day Moving Average – Should You Sell?

TriCo Bancshares (NASDAQ:TCBK) shares crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $52.68 and traded as low as $51.93. TriCo Bancshares shares last traded at $52.34, with a volume of 128,918 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently commented on TCBK. DA Davidson reaffirmed a “neutral” rating and issued a $55.00 target price on shares of TriCo Bancshares in a research report on Tuesday, October 27th. Piper Sandler downgraded TriCo Bancshares from a “neutral” rating to a “hold” rating in a report on Monday, October 26th. Stephens raised TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research report on Friday, October 2nd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, TriCo Bancshares presently has an average rating of “Hold” and an average target price of $55.62.

TriCo Bancshares Stock Performance

The firm’s fifty day moving average is $52.62 and its 200 day moving average is $52.09. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 11.97 and a beta of 0.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.89 and a quick ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.09. The firm had revenue of $116.71 million for the quarter, compared to analyst estimates of $114.63 million. TriCo Bancshares had a net margin of 25.10% and a return on equity of 10.48%. On average, analysts predict that TriCo Bancshares will post 4.39 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 16th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.8%. TriCo Bancshares’s dividend payout ratio is 33.41%.

Institutional Trading of TriCo Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in TriCo Bancshares in the second quarter valued at about $137,197,000. Davis Asset Management L.P. purchased a new stake in shares of TriCo Bancshares during the 2nd quarter worth about $56,376,000. The Manufacturers Life Insurance Company purchased a new stake in shares of TriCo Bancshares during the 2nd quarter worth about $22,526,000. First Trust Capital Management L.P. acquired a new stake in shares of TriCo Bancshares during the 3rd quarter valued at about $16,315,000. Finally, Heartland Advisors Inc. acquired a new stake in shares of TriCo Bancshares during the 2nd quarter valued at about $13,462,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

About TriCo Bancshares

TriCo Bancshares is a bank holding company whose principal subsidiary is Tri Counties Bank. The bank offers personal and business banking services, including checking and savings accounts, loans, credit cards, and online and mobile banking. For businesses, Tri Counties Bank provides commercial lending, deposit accounts, cash management, and related financial services. It also offers wealth management and trust services to individuals and organizations. Founded in 1975 and headquartered in Chico, California, Tri Counties Bank serves communities across Northern and Central California, including the Sacramento region and the Central Valley.