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

TriCo Bancshares (NASDAQ:TCBK) shares passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $52.45 and traded as high as $52.63. TriCo Bancshares shares last traded at $52.38, with a volume of 421,048 shares changing hands.

Analyst Upgrades and Downgrades

TCBK has been the topic of a number of research analyst reports. Raymond James Financial downgraded TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research note on Wednesday, July 8th. Stephens upgraded TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. DA Davidson decreased their price objective on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Finally, Zacks Research cut TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.60.

TriCo Bancshares Stock Up 0.5%

The business’s 50 day simple moving average is $55.61 and its 200-day simple moving average is $52.45. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 12.56 and a beta of 0.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. The business had revenue of $111.88 million for the quarter, compared to analysts’ expectations of $110.99 million. Sell-side analysts expect that TriCo Bancshares will post 4.28 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a $0.36 dividend. The ex-dividend date was Friday, September 11th. This represents a $1.44 dividend on an annualized basis and a yield of 2.7%. TriCo Bancshares’s payout ratio is 34.53%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of TriCo Bancshares during the 2nd quarter valued at about $137,197,000. Dimensional Fund Advisors LP grew its stake in shares of TriCo Bancshares by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,696,463 shares of the financial services provider’s stock valued at $80,650,000 after buying an additional 11,298 shares in the last quarter. Davis Asset Management L.P. acquired a new position in TriCo Bancshares in the second quarter worth approximately $56,376,000. The Manufacturers Life Insurance Company acquired a new position in TriCo Bancshares in the second quarter worth approximately $22,526,000. Finally, Heartland Advisors Inc. acquired a new position in TriCo Bancshares in the second quarter worth approximately $13,462,000. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Company Profile

TriCo Bancshares is a bank holding company headquartered in Chico, California. Its principal subsidiary, Tri Counties Bank, provides community banking services to individuals, businesses and public-sector customers.

The bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business loans, cash-management services and online and mobile banking. It also provides wealth management, trust and investment-related services through affiliated or specialized banking operations.

Tri Counties Bank was established in 1975 and serves communities across Northern and Central California through a network of branches and other delivery channels.