TriCo Bancshares (NASDAQ:TCBK) Sets New 12-Month High – Time to Buy?

TriCo Bancshares (NASDAQ:TCBK)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $50.38 and last traded at $50.3350, with a volume of 9559 shares changing hands. The stock had previously closed at $49.74.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TCBK. Keefe, Bruyette & Woods upped their target price on shares of TriCo Bancshares from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. Raymond James Financial restated an “outperform” rating and set a $46.00 target price (up previously from $45.00) on shares of TriCo Bancshares in a research note on Friday, October 24th. Zacks Research raised TriCo Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TriCo Bancshares in a report on Monday. Finally, Wall Street Zen upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.60.

TriCo Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 14.08 and a beta of 0.64. The firm’s 50 day simple moving average is $45.70 and its 200 day simple moving average is $43.78.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.92 by $0.12. TriCo Bancshares had a return on equity of 9.27% and a net margin of 21.87%.The business had revenue of $107.56 million for the quarter, compared to analyst estimates of $107.08 million. Sell-side analysts forecast that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.9%. TriCo Bancshares’s payout ratio is presently 40.45%.

Institutional Trading of TriCo Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC increased its position 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 worth $26,000 after acquiring an additional 459 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of TriCo Bancshares in the 3rd quarter valued at about $58,000. PNC Financial Services Group Inc. purchased a new position in shares of TriCo Bancshares during the third quarter worth approximately $76,000. Federated Hermes Inc. increased its stake in TriCo Bancshares by 17.7% in the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 290 shares during the period. Finally, CWM LLC raised its stake in TriCo Bancshares by 74.0% during the 3rd quarter. CWM LLC now owns 2,001 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 851 shares during the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.