TriCo Bancshares (NASDAQ:TCBK – Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $54.20 and last traded at $53.90, with a volume of 7906 shares traded. The stock had previously closed at $53.85.
Analyst Upgrades and Downgrades
TCBK has been the topic of a number of analyst reports. Piper Sandler upped their price target on shares of TriCo Bancshares from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Zacks Research cut shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.60.
Check Out Our Latest Research Report on TriCo Bancshares
TriCo Bancshares Price Performance
TriCo Bancshares (NASDAQ:TCBK – Get Free Report) last posted its earnings results on Monday, March 2nd. The financial services provider reported $1.03 EPS for the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%.The business had revenue of $111.21 million during the quarter. As a group, analysts predict that TriCo Bancshares will post 4.22 EPS for the current year.
TriCo Bancshares Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, June 5th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 36.46%.
Hedge Funds Weigh In On TriCo Bancshares
A number of hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in TriCo Bancshares by 40.3% during the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 211 shares during the period. Federated Hermes Inc. grew its stake in shares of TriCo Bancshares by 17.7% in the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 290 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of TriCo Bancshares by 1.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 30,254 shares of the financial services provider’s stock worth $1,433,000 after acquiring an additional 329 shares during the period. Sweeney & Michel LLC raised its holdings in shares of TriCo Bancshares by 0.3% during the first quarter. Sweeney & Michel LLC now owns 126,082 shares of the financial services provider’s stock valued at $6,318,000 after purchasing an additional 347 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of TriCo Bancshares by 337.5% during the third 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 during the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.
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.
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