TriCo Bancshares (NASDAQ:TCBK) Sets New 1-Year High – Here’s What Happened

Shares of TriCo Bancshares (NASDAQ:TCBK) hit a new 52-week high during trading on Wednesday . The stock traded as high as $49.17 and last traded at $49.17, with a volume of 22565 shares traded. The stock had previously closed at $43.71.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TCBK shares. Stephens decreased their price target on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Janney Montgomery Scott reiterated a “neutral” rating on shares of TriCo Bancshares in a report on Friday, July 26th. DA Davidson upped their price target on TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Piper Sandler reduced their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $48.00 price target (up previously from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, TriCo Bancshares has an average rating of “Moderate Buy” and a consensus price target of $48.60.

TriCo Bancshares Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $1.63 billion, a PE ratio of 14.63 and a beta of 0.54. The company has a 50-day moving average price of $43.23 and a two-hundred day moving average price of $40.94.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $133.84 million during the quarter, compared to analysts’ expectations of $98.65 million. TriCo Bancshares had a return on equity of 9.60% and a net margin of 21.12%. Sell-side analysts expect that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s dividend payout ratio (DPR) is 39.29%.

Insiders Place Their Bets

In other news, Director Michael W. Koehnen sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the completion of the sale, the director now directly owns 3,000 shares in the company, valued at $135,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at $135,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the sale, the director now owns 11,228 shares in the company, valued at $484,039.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TCBK. SG Americas Securities LLC increased its position in shares of TriCo Bancshares by 8.2% in the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 287 shares during the last quarter. ProShare Advisors LLC grew its stake in TriCo Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 439 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in TriCo Bancshares by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 758 shares in the last quarter. Sei Investments Co. increased its holdings in TriCo Bancshares by 4.4% in the first quarter. Sei Investments Co. now owns 18,045 shares of the financial services provider’s stock valued at $664,000 after buying an additional 764 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in TriCo Bancshares by 7.5% during the second quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock valued at $553,000 after buying an additional 973 shares in the last quarter. 59.11% of the stock is currently owned by 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.