TriCo Bancshares (NASDAQ:TCBK) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• TriCo Bancshares shares moved above their 200-day moving average, trading as high as $53.74 and last changing hands at $53.64, up 0.7% on the day. The breakout comes after the stock had a 200-day average of $49.88.
• Analyst sentiment is mixed but generally constructive: Weiss Ratings reiterated a buy, Piper Sandler lifted its price target to $63 with an overweight rating, while Zacks cut the stock to hold. Overall, the consensus rating is Moderate Buy with a $54.60 target.
• The bank reported quarterly EPS of $1.03 on revenue of $111.21 million and pays a quarterly dividend of $0.36 per share, equal to a 2.7% annualized yield. Institutional investors own a majority of the shares, with holdings at 59.11%.

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 $49.88 and traded as high as $53.74. TriCo Bancshares shares last traded at $53.64, with a volume of 110,305 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of TriCo Bancshares in a research report on Wednesday. Zacks Research lowered shares of TriCo Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Finally, Piper Sandler raised their price objective on TriCo Bancshares from $59.00 to $63.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $54.60.

TriCo Bancshares Stock Up 0.7%

The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.71 billion, a P/E ratio of 13.58 and a beta of 0.60. The stock has a 50 day moving average price of $51.52 and a 200 day moving average price of $49.88.

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 net margin of 23.71% and a return on equity of 9.87%. The business had revenue of $111.21 million for the quarter. On average, research analysts anticipate that TriCo Bancshares will post 4.22 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were given a dividend of $0.36 per share. The ex-dividend date was Friday, June 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. TriCo Bancshares's dividend payout ratio is 36.46%.

Hedge Funds Weigh In On TriCo Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in TriCo Bancshares by 28.9% during the first quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider's stock valued at $1,307,000 after acquiring an additional 7,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of TriCo Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider's stock worth $760,000 after acquiring an additional 820 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of TriCo Bancshares by 4.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider's stock valued at $25,727,000 after purchasing an additional 27,193 shares during the period. Empowered Funds LLC lifted its stake in shares of TriCo Bancshares by 8.4% in the 1st quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider's stock valued at $2,047,000 after purchasing an additional 3,951 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of TriCo Bancshares by 280.1% during the 1st quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider's stock valued at $1,977,000 after purchasing an additional 36,443 shares in the last quarter. Institutional investors and hedge funds 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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