TriCo Bancshares (NASDAQ:TCBK) Sees Strong Trading Volume

TriCo Bancshares (NASDAQ:TCBK) shares saw unusually-high trading volume on Friday . Approximately 40,114 shares were traded during trading, a decline of 53% from the previous session’s volume of 86,190 shares.The stock last traded at $33.69 and had previously closed at $33.21.

Wall Street Analysts Forecast Growth

TCBK has been the topic of a number of research reports. Raymond James upped their target price on TriCo Bancshares from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Piper Sandler lowered their target price on TriCo Bancshares from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, July 31st. Finally, StockNews.com raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

TriCo Bancshares Price Performance

The firm has a market capitalization of $1.11 billion, a PE ratio of 8.33 and a beta of 0.58. The business has a 50-day moving average of $35.84 and a 200 day moving average of $37.39. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). TriCo Bancshares had a net margin of 28.58% and a return on equity of 12.74%. The company had revenue of $104.34 million during the quarter, compared to analysts’ expectations of $106.15 million. As a group, research analysts anticipate that TriCo Bancshares will post 3.58 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Thursday, September 7th. TriCo Bancshares’s dividend payout ratio is presently 29.78%.

Institutional Investors Weigh In On TriCo Bancshares

Large investors have recently made changes to their positions in the business. Point72 Middle East FZE purchased a new stake in shares of TriCo Bancshares during the 2nd quarter valued at $28,000. Lazard Asset Management LLC bought a new position in shares of TriCo Bancshares during the 2nd quarter worth $28,000. Tower Research Capital LLC TRC grew its stake in shares of TriCo Bancshares by 631.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 951 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 821 shares during the period. Captrust Financial Advisors grew its stake in shares of TriCo Bancshares by 21.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,853 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 331 shares during the period. Finally, US Bancorp DE grew its stake in shares of TriCo Bancshares by 26.8% during the 2nd quarter. US Bancorp DE now owns 1,872 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 396 shares during the period. 62.40% of the stock is owned by hedge funds and other 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; commercial loans, including agricultural loans; and real estate construction loans.