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

Key Points

• Technical breakout: TriCo Bancshares' stock crossed above its 200-day moving average of $47.14, trading as high as $47.93 and last at $47.41 on volume of 133,237 shares.
• Analyst sentiment: Multiple firms raised price targets this month (four Buys, three Holds), leaving an average rating of "Moderate Buy" and an average price target of $53.80.
• Fundamentals and shareholder return: The company posted an EPS beat ($1.03 vs. $1.01 consensus) and revenue of $109.4M, pays a quarterly dividend of $0.36 (annualized $1.44, ~3.0% yield), and trades at a market cap of $1.52B with a P/E of 12.78.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $47.14 and traded as high as $47.93. TriCo Bancshares shares last traded at $47.41, with a volume of 133,237 shares trading hands.

Analyst Upgrades and Downgrades

TCBK has been the subject of a number of research analyst reports. Piper Sandler increased their price target on TriCo Bancshares from $57.00 to $59.00 and gave the company an "overweight" rating in a research note on Monday, January 26th. Zacks Research lowered TriCo Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 25th. Keefe, Bruyette & Woods upped their price objective on shares of TriCo Bancshares from $50.00 to $55.00 and gave the company a "market perform" rating in a report on Monday, January 26th. DA Davidson increased their price objective on shares of TriCo Bancshares from $51.00 to $54.00 and gave the company a "neutral" rating in a research report on Friday, January 23rd. Finally, Stephens lifted their target price on shares of TriCo Bancshares from $54.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, January 26th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $53.80.

TriCo Bancshares Trading Up 0.4%

The stock has a 50-day moving average of $49.18 and a 200 day moving average of $47.14. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.52 billion, a PE ratio of 12.78 and a beta of 0.63.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.02. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.43%. The company had revenue of $109.40 million during the quarter, compared to analyst estimates of $108.19 million. As a group, sell-side analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, March 6th. TriCo Bancshares's dividend payout ratio (DPR) is 38.81%.

Institutional Investors Weigh In On TriCo Bancshares

Hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its position in TriCo Bancshares by 337.5% during the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider's stock worth $26,000 after purchasing an additional 459 shares during the period. Danske Bank A S purchased a new stake in shares of TriCo Bancshares in the fourth quarter worth about $28,000. Farther Finance Advisors LLC boosted its stake in shares of TriCo Bancshares by 40.3% in the fourth quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider's stock worth $35,000 after buying an additional 211 shares during the last quarter. Abound Financial LLC purchased a new stake in shares of TriCo Bancshares in the fourth quarter worth about $43,000. Finally, State of Alaska Department of Revenue acquired a new stake in TriCo Bancshares during the third quarter worth about $58,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

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.

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