TriCo Bancshares (NASDAQ:TCBK) Hits New 12-Month High – Should You Buy?

by · The Markets Daily

Shares of TriCo Bancshares (NASDAQ:TCBKGet Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $52.18 and last traded at $51.38, with a volume of 61222 shares. The stock had previously closed at $51.04.

Analyst Ratings Changes

TCBK has been the subject of a number of research analyst reports. Wall Street Zen raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings restated a “hold (c+)” rating on shares of TriCo Bancshares in a report on Monday, December 29th. Stephens raised their target price on shares of 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 price target on shares of TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Finally, Piper Sandler lifted their price objective on shares of TriCo Bancshares from $57.00 to $59.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, TriCo Bancshares currently has an average rating of “Hold” and an average target price of $53.80.

Read Our Latest Stock Report on TCBK

TriCo Bancshares Price Performance

The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 13.78 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $48.87 and a two-hundred day moving average price of $45.63.

TriCo Bancshares (NASDAQ:TCBKGet Free Report) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $1.01 by $0.02. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.53%. The business had revenue of $109.40 million during the quarter, compared to the consensus estimate of $108.19 million. As a group, equities research analysts forecast that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.36 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.8%. TriCo Bancshares’s dividend payout ratio is presently 38.81%.

Hedge Funds Weigh In On TriCo Bancshares

Several large investors have recently made changes to their positions in TCBK. Farther Finance Advisors LLC raised its stake 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 buying an additional 211 shares during the period. Federated Hermes Inc. raised its holdings in shares of TriCo Bancshares by 17.7% during the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 290 shares during the last quarter. Larson Financial Group LLC lifted its holdings in TriCo Bancshares by 337.5% in the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 459 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in TriCo Bancshares by 3.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 17,106 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 525 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in shares of TriCo Bancshares during the fourth quarter worth $28,000. 59.11% of the stock is currently 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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