TriCo Bancshares (NASDAQ:TCBK) Stock Crosses Above 200-Day Moving Average - What's Next?

Key Points

• TriCo Bancshares shares moved above their 200-day moving average, reaching $52.63 before closing at $52.38. The stock’s 200-day average is $52.45, while its 50-day average is $55.61.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $56.60; two analysts rate the stock Buy and five rate it Hold.
• The company beat quarterly expectations, reporting $1.06 in earnings per share versus the $1.03 consensus and $111.88 million in revenue. TriCo also pays a $0.36 quarterly dividend, equating to a 2.7% annualized yield.

Shares of TriCo Bancshares (NASDAQ:TCBK - Get Free Report) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $52.45 and traded as high as $52.63. TriCo Bancshares shares last traded at $52.38, with a volume of 421,048 shares.

Wall Street Analyst Weigh In

TCBK has been the topic of several research reports. DA Davidson reduced their target price on TriCo Bancshares from $66.00 to $65.00 and set a "neutral" rating on the stock in a report on Monday, July 27th. Stephens raised TriCo Bancshares from an "equal weight" rating to an "overweight" rating in a research note on Thursday, August 6th. Raymond James Financial downgraded TriCo Bancshares from an "outperform" rating to a "market perform" rating in a research report on Tuesday, July 14th. Piper Sandler raised their target price on shares of TriCo Bancshares from $61.00 to $63.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of TriCo Bancshares in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $56.60.

TriCo Bancshares Price Performance

The firm has a market capitalization of $1.67 billion, a P/E ratio of 12.56 and a beta of 0.59. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $55.61 and a 200-day moving average price of $52.45.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.03. The firm had revenue of $111.88 million for the quarter, compared to the consensus estimate of $110.99 million. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%. On average, analysts expect that TriCo Bancshares will post 4.28 earnings per share for the current year.

TriCo Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. TriCo Bancshares's payout ratio is currently 34.53%.

Institutional Trading of TriCo Bancshares

Several institutional investors have recently added to or reduced their stakes in TCBK. BlackRock Inc. purchased a new stake in shares of TriCo Bancshares in the second quarter worth approximately $137,197,000. Davis Asset Management L.P. bought a new position in TriCo Bancshares in the 2nd quarter valued at $56,376,000. The Manufacturers Life Insurance Company purchased a new stake in TriCo Bancshares in the second quarter worth $22,526,000. Heartland Advisors Inc. bought a new stake in shares of TriCo Bancshares during the second quarter worth $13,462,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of TriCo Bancshares during the second quarter valued at $8,378,000. Institutional investors own 59.11% of the company's stock.

TriCo Bancshares Company Profile

TriCo Bancshares is a bank holding company headquartered in Chico, California. Its principal subsidiary, Tri Counties Bank, provides community banking services to individuals, businesses and public-sector customers.

The bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business loans, cash-management services and online and mobile banking. It also provides wealth management, trust and investment-related services through affiliated or specialized banking operations.

Tri Counties Bank was established in 1975 and serves communities across Northern and Central California through a network of branches and other delivery channels.

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