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

TriCo Bancshares (NASDAQ:TCBK) shares 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 trading hands. The stock had previously closed at $53.64.

Analyst Upgrades and Downgrades

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

TriCo Bancshares Trading Up 9.3%

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 current ratio of 0.87 and a quick ratio of 0.86. The business’s 50-day simple moving average is $51.52 and its 200-day simple moving average is $49.89.

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

TriCo Bancshares Dividend Announcement

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

Institutional Trading of TriCo Bancshares

A number of large investors have recently made changes to their positions in the stock. Fermata Advisors LLC acquired a new position in TriCo Bancshares in the 2nd quarter valued at about $209,000. Parallel Advisors LLC grew its holdings in shares of TriCo Bancshares by 88.5% during the first quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock worth $68,000 after buying an additional 676 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of TriCo Bancshares by 39.4% during the first quarter. Bank of America Corp DE now owns 86,742 shares of the financial services provider’s stock worth $4,124,000 after buying an additional 24,500 shares in the last quarter. California State Teachers Retirement System raised its position in shares of TriCo Bancshares by 13.3% in the first quarter. California State Teachers Retirement System now owns 32,720 shares of the financial services provider’s stock valued at $1,556,000 after buying an additional 3,837 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of TriCo Bancshares by 22.8% in the first quarter. Quantinno Capital Management LP now owns 10,836 shares of the financial services provider’s stock valued at $515,000 after buying an additional 2,014 shares during the last quarter. Institutional investors and hedge funds 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.