TriCo Bancshares (NASDAQ:TCBK) Hits New 52-Week High – Should You Buy?

Shares of TriCo Bancshares (NASDAQ:TCBK) reached a new 52-week high during trading on Monday . The stock traded as high as $57.00 and last traded at $57.00, with a volume of 11684 shares traded. The stock had previously closed at $53.64.

Analysts Set New Price Targets

Several research analysts have weighed in on TCBK shares. Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Weiss Ratings restated a “buy (b)” rating on shares of TriCo Bancshares in a report on Wednesday. Finally, Piper Sandler lifted their price objective on TriCo Bancshares from $59.00 to $63.00 and gave the company an “overweight” rating in a research report 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.60.

TriCo Bancshares Stock Performance

The stock’s fifty day simple moving average is $51.52 and its two-hundred day simple moving average is $49.89. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 14.84 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.

TriCo Bancshares (NASDAQ:TCBK) last issued its 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 for the quarter. Equities research analysts anticipate that TriCo Bancshares will post 4.22 EPS for the current year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, June 5th. TriCo Bancshares’s dividend payout ratio (DPR) is 36.46%.

Institutional Trading of TriCo Bancshares

A number of institutional investors have recently modified their holdings of TCBK. Farther Finance Advisors LLC increased its position 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 acquiring an additional 211 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of TriCo Bancshares by 17.7% in the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 290 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of TriCo Bancshares by 1.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 30,254 shares of the financial services provider’s stock valued at $1,433,000 after purchasing an additional 329 shares in the last quarter. Sweeney & Michel LLC boosted its stake in TriCo Bancshares by 0.3% during the 1st quarter. Sweeney & Michel LLC now owns 126,082 shares of the financial services provider’s stock valued at $6,318,000 after acquiring an additional 347 shares during the last quarter. Finally, Larson Financial Group LLC lifted 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 purchasing an additional 459 shares during the last quarter. 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.