TriCo Bancshares (NASDAQ:TCBK) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

TriCo Bancshares (NASDAQ:TCBK) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $49.45 and traded as high as $52.14. TriCo Bancshares shares last traded at $51.56, with a volume of 152,791 shares traded.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Zacks Research lowered TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Piper Sandler raised their target price on shares of TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Weiss Ratings raised TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.60.

TriCo Bancshares Stock Performance

The stock has a market capitalization of $1.70 billion, a P/E ratio of 13.47 and a beta of 0.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.87. The company’s fifty day simple moving average is $50.56 and its two-hundred day simple moving average is $49.47.

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

TriCo Bancshares Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of TriCo Bancshares by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 1,922,988 shares of the financial services provider’s stock worth $91,092,000 after purchasing an additional 38,311 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of TriCo Bancshares by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,696,463 shares of the financial services provider’s stock valued at $80,650,000 after purchasing an additional 11,298 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of TriCo Bancshares by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 777,826 shares of the financial services provider’s stock worth $36,851,000 after buying an additional 6,793 shares during the last quarter. Goldman Sachs Group Inc. grew its position in TriCo Bancshares by 6.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 672,905 shares of the financial services provider’s stock worth $31,876,000 after acquiring an additional 43,417 shares during the last quarter. Finally, North Reef Capital Management LP bought a new stake in shares of TriCo Bancshares during the fourth quarter worth about $22,994,000. 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.