TriCo Bancshares (NASDAQ:TCBK) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

TriCo Bancshares (NASDAQ:TCBK) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $44.01 and traded as high as $44.02. TriCo Bancshares shares last traded at $43.12, with a volume of 87,038 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TCBK. DA Davidson lowered TriCo Bancshares from a “buy” rating to a “neutral” rating and lifted their price target for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Piper Sandler reduced their price target 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, Stephens lowered their price objective on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.20.

TriCo Bancshares Stock Performance

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 stock’s 50-day simple moving average is $46.38 and its two-hundred day simple moving average is $44.01. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 12.83 and a beta of 0.58.

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

TriCo Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.06%. TriCo Bancshares’s dividend payout ratio is 39.29%.

Insider Buying and Selling at TriCo Bancshares

In related news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the sale, the director now directly owns 6,128 shares of the company’s stock, valued at $303,152.16. This trade represents a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.64% of the company’s stock.

Institutional Trading of TriCo Bancshares

A number of hedge funds have recently modified their holdings of the company. Barclays PLC increased its position in shares of TriCo Bancshares by 127.0% during the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock valued at $2,468,000 after purchasing an additional 32,379 shares during the period. Geode Capital Management LLC raised its stake in shares of TriCo Bancshares by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock valued at $33,344,000 after buying an additional 5,155 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of TriCo Bancshares in the 3rd quarter valued at $395,000. Creative Planning lifted its stake in TriCo Bancshares by 62.6% during the second quarter. Creative Planning now owns 21,447 shares of the financial services provider’s stock worth $849,000 after purchasing an additional 8,260 shares during the period. Finally, Versor Investments LP bought a new position in shares of TriCo Bancshares during the 3rd quarter worth approximately $699,000. Institutional investors own 59.11% of the company’s stock.

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.