TriCo Bancshares (NASDAQ:TCBK) Reaches New 1-Year High – Still a Buy?

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

Analysts Set New Price Targets

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

TriCo Bancshares Trading Up 0.9 %

The company has a 50 day moving average of $43.35 and a 200 day moving average of $41.04. The firm has a market cap of $1.56 billion, a P/E ratio of 13.97 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.85.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. The company had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.60%. Analysts predict that TriCo Bancshares will post 3.38 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, September 6th. This represents a $1.32 annualized dividend and a yield of 2.79%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 39.29%.

Insider Transactions at TriCo Bancshares

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

Institutional Trading of TriCo Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in TriCo Bancshares by 8.2% during the first quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock worth $139,000 after buying an additional 287 shares in the last quarter. ProShare Advisors LLC raised its position 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. Connor Clark & Lunn Investment Management Ltd. bought a new position in TriCo Bancshares during the third quarter worth about $210,000. Quantbot Technologies LP acquired a new stake in TriCo Bancshares during the first quarter valued at approximately $227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of TriCo Bancshares by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 758 shares during the period. 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.