TriCo Bancshares (NASDAQ:TCBK) Reaches New 1-Year High – Here’s What Happened

TriCo Bancshares (NASDAQ:TCBK)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $52.18 and last traded at $51.38, with a volume of 61222 shares traded. The stock had previously closed at $51.04.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TCBK shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $46.00 price target (up from $45.00) on shares of TriCo Bancshares in a report on Friday, October 24th. Piper Sandler increased their price target on TriCo Bancshares from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Weiss Ratings restated a “hold (c+)” rating on shares of TriCo Bancshares in a research note on Monday, December 29th. Zacks Research downgraded shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Finally, DA Davidson lifted their target price on shares of TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, TriCo Bancshares has a consensus rating of “Hold” and an average price target of $53.80.

TriCo Bancshares Trading Down 0.4%

The stock has a 50-day moving average of $49.00 and a 200 day moving average of $45.74. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.69 billion, a PE ratio of 14.01 and a beta of 0.64.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.01 by $0.02. The business 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 9.53%. As a group, sell-side analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, December 5th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 38.81%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Larson Financial Group LLC boosted its position in TriCo Bancshares by 337.5% during the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 459 shares in the last quarter. Danske Bank A S purchased a new position in shares of TriCo Bancshares in the fourth quarter worth about $28,000. Farther Finance Advisors LLC boosted its holdings in shares of TriCo Bancshares by 40.3% during the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 211 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in TriCo Bancshares during the third quarter worth $58,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of TriCo Bancshares during the 3rd quarter valued at about $76,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

About TriCo Bancshares

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.