TriCo Bancshares (NASDAQ:TCBK) Hits New 1-Year High – Still a Buy?

Shares of TriCo Bancshares (NASDAQ:TCBK) hit a new 52-week high during trading on Wednesday . The company traded as high as $54.20 and last traded at $53.90, with a volume of 7906 shares. The stock had previously closed at $53.85.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Piper Sandler lifted their price target on shares of TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.60.

TriCo Bancshares Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market cap of $1.73 billion, a PE ratio of 13.75 and a beta of 0.60. The firm has a 50-day simple moving average of $50.90 and a 200 day simple moving average of $49.65.

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 for the quarter. TriCo Bancshares had a net margin of 23.71% and a return on equity of 9.87%. As a group, equities analysts expect that TriCo Bancshares will post 4.22 EPS for the current year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, June 5th. TriCo Bancshares’s dividend payout ratio is 36.46%.

Hedge Funds Weigh In On TriCo Bancshares

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its stake in shares of TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after buying an additional 211 shares during the last quarter. Federated Hermes Inc. raised its stake in TriCo Bancshares by 17.7% during the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after buying an additional 290 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in TriCo Bancshares by 1.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 30,254 shares of the financial services provider’s stock valued at $1,433,000 after buying an additional 329 shares during the last quarter. Sweeney & Michel LLC boosted its holdings in TriCo Bancshares by 0.3% in the first quarter. Sweeney & Michel LLC now owns 126,082 shares of the financial services provider’s stock worth $6,318,000 after acquiring an additional 347 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 459 shares in the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

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.