TriCo Bancshares (NASDAQ:TCBK) Reaches New 12-Month High – What’s Next?

Shares of TriCo Bancshares (NASDAQ:TCBK) reached a new 52-week high during trading on Monday . The company traded as high as $50.71 and last traded at $50.68, with a volume of 11943 shares. The stock had previously closed at $48.95.

Wall Street Analyst Weigh In

TCBK has been the topic of several analyst reports. Stephens cut their price target on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Piper Sandler dropped their target price on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, DA Davidson downgraded TriCo Bancshares from a “buy” rating to a “neutral” rating and increased their price target for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.20.

TriCo Bancshares Stock Down 2.1 %

The company has a market cap of $1.60 billion, a P/E ratio of 14.45 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The business’s fifty day moving average is $44.40 and its two-hundred day moving average is $42.14.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The firm had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million. Equities analysts predict that TriCo Bancshares will post 3.38 EPS for the current year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, December 6th. TriCo Bancshares’s dividend payout ratio is 39.29%.

Institutional Trading of TriCo Bancshares

Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. raised its holdings in shares of TriCo Bancshares by 4.4% in the 1st quarter. Sei Investments Co. now owns 18,045 shares of the financial services provider’s stock valued at $664,000 after purchasing an additional 764 shares in the last quarter. ProShare Advisors LLC increased its holdings in TriCo Bancshares by 8.5% during the first quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock valued at $205,000 after buying an additional 439 shares during the period. Quadrature Capital Ltd purchased a new stake in TriCo Bancshares during the first quarter worth $489,000. Price T Rowe Associates Inc. MD lifted its stake in shares of TriCo Bancshares by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,895 shares of the financial services provider’s stock worth $1,063,000 after purchasing an additional 1,119 shares during the last quarter. Finally, Sweeney & Michel LLC boosted its position in TriCo Bancshares by 0.8% during the second quarter. Sweeney & Michel LLC now owns 132,678 shares of the financial services provider’s stock valued at $5,173,000 after purchasing an additional 1,051 shares in the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.