TriCo Bancshares (NASDAQ:TCBK) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

by · The Cerbat Gem

TriCo Bancshares (NASDAQ:TCBKGet Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $47.14 and traded as high as $47.93. TriCo Bancshares shares last traded at $47.41, with a volume of 133,237 shares traded.

Analysts Set New Price Targets

Several brokerages have weighed in on TCBK. Keefe, Bruyette & Woods boosted their price target on TriCo Bancshares from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Monday, January 26th. Zacks Research cut TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Stephens lifted their price objective on TriCo Bancshares from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. DA Davidson upped their target price on TriCo Bancshares from $51.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Finally, Piper Sandler raised their price target on TriCo Bancshares from $57.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Check Out Our Latest Analysis on TriCo Bancshares

TriCo Bancshares Stock Performance

The company has a market cap of $1.50 billion, a PE ratio of 12.54 and a beta of 0.63. The stock’s 50 day simple moving average is $49.13 and its two-hundred day simple moving average is $47.14. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBKGet Free Report) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.02. The company had revenue of $109.40 million during the quarter, compared to analysts’ expectations of $108.19 million. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.43%. As a group, research analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, March 6th. This represents a $1.44 annualized dividend and a yield of 3.1%. TriCo Bancshares’s dividend payout ratio is currently 38.81%.

Hedge Funds Weigh In On TriCo Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC acquired a new stake in TriCo Bancshares during the 4th quarter worth approximately $815,000. Mercer Global Advisors Inc. ADV lifted its position in TriCo Bancshares by 3.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 162,047 shares of the financial services provider’s stock valued at $7,676,000 after buying an additional 5,055 shares in the last quarter. State of Tennessee Department of Treasury purchased a new stake in TriCo Bancshares during the fourth quarter worth approximately $164,000. Man Group plc purchased a new stake in TriCo Bancshares during the fourth quarter worth approximately $294,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of TriCo Bancshares in the fourth quarter worth $336,000. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Company Profile

(Get Free Report)

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.

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