TriCo Bancshares (NASDAQ:TCBK) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

TriCo Bancshares (NASDAQ:TCBK) shares crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $52.96 and traded as high as $53.20. TriCo Bancshares shares last traded at $53.02, with a volume of 1,351,772 shares trading hands.

Analyst Ratings Changes

Several analysts have commented on TCBK shares. Raymond James Financial downgraded shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Stephens upgraded shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research report on Friday, October 2nd. DA Davidson reissued a “neutral” rating and set a $55.00 target price on shares of TriCo Bancshares in a research report on Tuesday. Finally, Piper Sandler lowered TriCo Bancshares from a “neutral” rating to a “hold” rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, TriCo Bancshares has a consensus rating of “Hold” and a consensus target price of $55.62.

TriCo Bancshares Trading Up 0.6%

The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 12.30 and a beta of 0.66. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $52.96 and a two-hundred day moving average of $51.91.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.09 by $0.09. TriCo Bancshares had a return on equity of 10.47% and a net margin of 25.10%. The company had revenue of $116.71 million for the quarter, compared to the consensus estimate of $114.63 million. On average, research analysts expect that TriCo Bancshares will post 4.34 EPS for the current year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 16th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, November 16th. TriCo Bancshares’s dividend payout ratio is currently 33.41%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in TriCo Bancshares during the 2nd quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of TriCo Bancshares in the second quarter worth about $36,000. Parallel Advisors LLC lifted its position in shares of TriCo Bancshares by 88.5% during 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 last quarter. Nisa Investment Advisors LLC lifted its position in shares of TriCo Bancshares by 69.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,964 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 802 shares during the last quarter. Finally, Fermata Advisors LLC bought a new stake in TriCo Bancshares during the 2nd quarter valued at approximately $209,000. Institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Company Profile

TriCo Bancshares (NASDAQ: TCBK) is a bank holding company headquartered in Chico, California. Through its principal subsidiary, Tri Counties Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and public entities.

Tri Counties Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and other financial services.