TriCo Bancshares (NASDAQ:TCBK) Hits New 1-Year High – Should You Buy?
by Jessica Moore · The Cerbat GemTriCo Bancshares (NASDAQ:TCBK – Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $50.85 and last traded at $50.6250, with a volume of 93591 shares changing hands. The stock had previously closed at $48.55.
Analyst Upgrades and Downgrades
Several analysts have commented on TCBK shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TriCo Bancshares in a research note on Monday, December 29th. Keefe, Bruyette & Woods boosted their price objective on shares of TriCo Bancshares from $46.00 to $50.00 and gave the company a “market perform” rating in a research report on Monday, October 27th. Wall Street Zen upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Raymond James Financial reiterated 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. Finally, Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.60.
Read Our Latest Research Report on TCBK
TriCo Bancshares Stock Up 4.2%
The stock has a 50 day moving average price of $48.06 and a 200 day moving average price of $45.16. The company has a market cap of $1.65 billion, a P/E ratio of 14.22 and a beta of 0.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86.
TriCo Bancshares (NASDAQ:TCBK – Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.12. The company had revenue of $107.56 million for the quarter, compared to analysts’ expectations of $107.08 million. TriCo Bancshares had a return on equity of 9.27% and a net margin of 21.87%. Research analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.
TriCo Bancshares Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued 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 40.45%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in TriCo Bancshares by 136.8% during the fourth quarter. SG Americas Securities LLC now owns 20,389 shares of the financial services provider’s stock worth $966,000 after buying an additional 11,780 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of TriCo Bancshares during the fourth quarter worth $1,126,000. JPMorgan Chase & Co. lifted its holdings in shares of TriCo Bancshares by 13.4% in the third quarter. JPMorgan Chase & Co. now owns 361,435 shares of the financial services provider’s stock valued at $16,051,000 after purchasing an additional 42,657 shares in the last quarter. Mariner LLC acquired a new position in TriCo Bancshares during the third quarter worth $498,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of TriCo Bancshares in the 3rd quarter valued at $6,972,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.
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.