TriCo Bancshares (NASDAQ:TCBK) Shares Cross Below 50 Day Moving Average - Should You Sell?

Key Points

• Shares slipped below their 50-day moving average: TriCo traded as low as $51.93 and last changed hands at $52.34, below the $52.68 average.
• Analyst sentiment is mostly neutral: Two analysts rate the stock Buy and five Hold, giving it an average rating of Hold and an average price target of $55.62.
• TriCo beat quarterly earnings and revenue estimates, reporting $1.18 EPS and $116.71 million in revenue. It also announced a $0.36-per-share quarterly dividend, equivalent to a 2.8% yield.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) shares crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $52.68 and traded as low as $51.93. TriCo Bancshares shares last traded at $52.34, with a volume of 128,918 shares changing hands.

Analysts Set New Price Targets

TCBK has been the topic of several recent research reports. Weiss Ratings reissued a "buy (b)" rating on shares of TriCo Bancshares in a report on Friday, October 2nd. DA Davidson reaffirmed a "neutral" rating and issued a $55.00 target price on shares of TriCo Bancshares in a report on Tuesday, October 27th. Piper Sandler cut TriCo Bancshares from a "neutral" rating to a "hold" rating in a report on Monday, October 26th. Raymond James Financial downgraded TriCo Bancshares from an "outperform" rating to a "market perform" rating in a research report on Tuesday, July 14th. Finally, Stephens raised TriCo Bancshares from an "equal weight" rating to an "overweight" rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $55.62.

TriCo Bancshares Stock Down 0.8%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.87 and a current ratio of 0.89. The stock has a market capitalization of $1.67 billion, a P/E ratio of 12.14 and a beta of 0.67. The stock's fifty day simple moving average is $52.68 and its two-hundred day simple moving average is $52.07.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.09. The firm had revenue of $116.71 million during the quarter, compared to analysts' expectations of $114.63 million. TriCo Bancshares had a net margin of 25.10% and a return on equity of 10.48%. As a group, research analysts expect that TriCo Bancshares will post 4.39 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 16th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, November 16th. TriCo Bancshares's dividend payout ratio (DPR) is currently 33.41%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TCBK. Bank of America Corp DE acquired a new stake in shares of TriCo Bancshares in the second quarter valued at about $4,456,000. Hsbc Holdings PLC bought a new position in shares of TriCo Bancshares during the fourth quarter worth about $815,000. Basswood Capital Management L.L.C. acquired a new position in shares of TriCo Bancshares in the second quarter worth approximately $7,430,000. Legal & General Group Plc acquired a new position in shares of TriCo Bancshares in the second quarter worth approximately $1,338,000. Finally, Heartland Advisors Inc. acquired a new position in shares of TriCo Bancshares in the second quarter worth approximately $13,462,000. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Company Profile

TriCo Bancshares is a bank holding company whose principal subsidiary is Tri Counties Bank. The bank offers personal and business banking services, including checking and savings accounts, loans, credit cards, and online and mobile banking. For businesses, Tri Counties Bank provides commercial lending, deposit accounts, cash management, and related financial services. It also offers wealth management and trust services to individuals and organizations. Founded in 1975 and headquartered in Chico, California, Tri Counties Bank serves communities across Northern and Central California, including the Sacramento region and the Central Valley.

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