TriCo Bancshares (NASDAQ:TCBK) Reaches New 1-Year High – Here’s Why

TriCo Bancshares (NASDAQ:TCBK) reached a new 52-week high during trading on Wednesday . The company traded as high as $53.29 and last traded at $53.08, with a volume of 37893 shares trading hands. The stock had previously closed at $52.67.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TCBK shares. Zacks Research downgraded shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Weiss Ratings upgraded shares of TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Finally, Piper Sandler increased their target price on shares of TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.60.

TriCo Bancshares Trading Up 1.3%

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $1.70 billion, a P/E ratio of 13.50 and a beta of 0.60. The firm has a fifty day moving average price of $50.56 and a 200-day moving average price of $49.47.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Monday, March 2nd. The financial services provider reported $1.03 EPS for the quarter. The business had revenue of $111.21 million for the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%. On average, equities research analysts anticipate that TriCo Bancshares will post 4.22 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, June 5th. TriCo Bancshares’s payout ratio is presently 36.46%.

Institutional Trading of TriCo Bancshares

A number of large investors have recently added to or reduced their stakes in TCBK. Larson Financial Group LLC boosted its stake in TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 459 shares during the last quarter. Danske Bank A S purchased a new stake in shares of TriCo Bancshares during the 4th quarter worth approximately $28,000. Farther Finance Advisors LLC increased its stake in shares of TriCo Bancshares by 40.3% during the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 211 shares during the last quarter. Abound Financial LLC bought a new stake in shares of TriCo Bancshares in the 4th quarter worth approximately $43,000. Finally, Parallel Advisors LLC raised its holdings in shares of TriCo Bancshares by 88.5% in the 1st quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 676 shares during the period. Hedge funds and other institutional investors own 59.11% of the company’s stock.

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.