TriCo Bancshares (NASDAQ:TCBK) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of TriCo Bancshares (NASDAQ:TCBK) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $44.75 and traded as high as $49.16. TriCo Bancshares shares last traded at $48.26, with a volume of 63,645 shares.

Wall Street Analysts Forecast Growth

TCBK has been the topic of a number of research reports. Wall Street Zen upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Keefe, Bruyette & Woods lifted 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 note on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of TriCo Bancshares in a report on Monday, December 29th. Raymond James Financial reissued an “outperform” rating and issued a $46.00 target price (up previously from $45.00) on shares of TriCo Bancshares in a report on Friday, October 24th. Finally, Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.60.

TriCo Bancshares Price Performance

The stock’s fifty day moving average price is $47.53 and its 200-day moving average price is $44.78. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $1.57 billion, a PE ratio of 13.56 and a beta of 0.63.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.12. The company had revenue of $107.56 million for the quarter, compared to analyst estimates of $107.08 million. TriCo Bancshares had a net margin of 21.87% and a return on equity of 9.27%. As a group, equities analysts forecast that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, December 5th. TriCo Bancshares’s payout ratio is presently 40.45%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV purchased a new stake in shares of TriCo Bancshares in the 3rd quarter worth about $6,972,000. ProShare Advisors LLC raised its position in TriCo Bancshares by 2,137.5% during the second quarter. ProShare Advisors LLC now owns 154,969 shares of the financial services provider’s stock worth $6,275,000 after acquiring an additional 148,043 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of TriCo Bancshares by 7.9% in the second quarter. Franklin Resources Inc. now owns 1,725,857 shares of the financial services provider’s stock valued at $69,880,000 after purchasing an additional 126,571 shares in the last quarter. Allworth Financial LP grew its position in shares of TriCo Bancshares by 1,339.5% in the second quarter. Allworth Financial LP now owns 119,393 shares of the financial services provider’s stock valued at $4,834,000 after purchasing an additional 111,099 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of TriCo Bancshares by 292.7% during the 3rd quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock worth $6,009,000 after purchasing an additional 100,858 shares in the last quarter. 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.