TriCo Bancshares (NASDAQ:TCBK) Shares Pass Above 200-Day Moving Average – Here’s Why

TriCo Bancshares (NASDAQ:TCBK)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $49.45 and traded as high as $52.14. TriCo Bancshares shares last traded at $51.56, with a volume of 152,791 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TCBK. Weiss Ratings upgraded TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Zacks Research cut TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Piper Sandler raised their price objective on TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TriCo Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $54.60.

TriCo Bancshares Stock Performance

The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 13.05 and a beta of 0.60. 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 fifty day simple moving average of $50.51 and a two-hundred day simple moving average of $49.45.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Monday, March 2nd. The financial services provider reported $1.03 earnings per share (EPS) 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%. On average, analysts expect that TriCo Bancshares will post 4.22 EPS for the current year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, June 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.8%. TriCo Bancshares’s dividend payout ratio is presently 36.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC increased 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 acquiring an additional 7,334 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in TriCo Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 820 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in TriCo Bancshares by 4.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock worth $25,727,000 after acquiring an additional 27,193 shares during the last quarter. Empowered Funds LLC lifted its position in TriCo Bancshares by 8.4% during the 1st quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock worth $2,047,000 after acquiring an additional 3,951 shares during the period. Finally, Jane Street Group LLC lifted its position in TriCo Bancshares by 280.1% during the 1st quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock worth $1,977,000 after acquiring an additional 36,443 shares during the period. Hedge funds and other institutional investors own 59.11% of the company’s stock.

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.