TriCo Bancshares (NASDAQ:TCBK) Shares Cross Above 200 Day Moving Average – Time to Sell?

Shares of TriCo Bancshares (NASDAQ:TCBK) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $49.88 and traded as high as $53.74. TriCo Bancshares shares last traded at $53.64, with a volume of 110,305 shares.

Wall Street Analyst Weigh In

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

TriCo Bancshares Price Performance

The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 13.58 and a beta of 0.60. The business’s fifty day moving average price is $51.52 and its 200-day moving average price is $49.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.86.

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

TriCo Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. TriCo Bancshares’s dividend payout ratio is 36.46%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. North Reef Capital Management LP bought a new position in TriCo Bancshares during the 4th quarter valued at $22,994,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of TriCo Bancshares in the third quarter valued at about $6,972,000. Millennium Management LLC raised its holdings in shares of TriCo Bancshares by 292.7% in the third quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock valued at $6,009,000 after purchasing an additional 100,858 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of TriCo Bancshares during the first quarter valued at about $4,527,000. Finally, FJ Capital Management LLC bought a new position in shares of TriCo Bancshares during the fourth quarter valued at about $4,381,000. 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.