TriCo Bancshares (NASDAQ:TCBK) Share Price Passes Above 200 Day Moving Average of $35.74

Shares of TriCo Bancshares (NASDAQ:TCBKGet Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $35.74 and traded as high as $35.76. TriCo Bancshares shares last traded at $35.25, with a volume of 104,467 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating on the stock in a research report on Friday, January 26th. DA Davidson lowered their price objective on TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. StockNews.com upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, Raymond James boosted their price objective on TriCo Bancshares from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Read Our Latest Analysis on TriCo Bancshares

TriCo Bancshares Stock Up 4.7 %

The business has a 50-day simple moving average of $35.86 and a two-hundred day simple moving average of $35.74. The stock has a market capitalization of $1.17 billion, a P/E ratio of 10.01 and a beta of 0.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63.

TriCo Bancshares (NASDAQ:TCBKGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.07). TriCo Bancshares had a net margin of 23.49% and a return on equity of 10.64%. The company had revenue of $131.95 million during the quarter, compared to the consensus estimate of $101.30 million. Equities research analysts forecast that TriCo Bancshares will post 3.25 earnings per share for the current fiscal year.

TriCo Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Thursday, March 7th. This is a boost from TriCo Bancshares’s previous quarterly dividend of $0.30. TriCo Bancshares’s dividend payout ratio is presently 37.50%.

Institutional Trading of TriCo Bancshares

Several large investors have recently made changes to their positions in TCBK. American Century Companies Inc. grew its holdings in shares of TriCo Bancshares by 208.7% during the first quarter. American Century Companies Inc. now owns 45,616 shares of the financial services provider’s stock worth $1,826,000 after purchasing an additional 30,838 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of TriCo Bancshares by 56.0% during the first quarter. MetLife Investment Management LLC now owns 15,038 shares of the financial services provider’s stock worth $602,000 after purchasing an additional 5,399 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of TriCo Bancshares by 19.7% during the first quarter. Rhumbline Advisers now owns 48,261 shares of the financial services provider’s stock worth $1,932,000 after purchasing an additional 7,933 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TriCo Bancshares by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,269,618 shares of the financial services provider’s stock worth $50,824,000 after purchasing an additional 35,630 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of TriCo Bancshares by 3.9% during the first quarter. Vanguard Group Inc. now owns 1,418,186 shares of the financial services provider’s stock worth $56,770,000 after purchasing an additional 52,760 shares during the last quarter. Institutional investors own 62.40% of the company’s stock.

About TriCo Bancshares

(Get Free Report)

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.

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