TriCo Bancshares (NASDAQ:TCBK) Stock Crosses Above 200-Day Moving Average - What's Next?

Shares of TriCo Bancshares (NASDAQ:TCBK - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $44.01 and traded as high as $44.02. TriCo Bancshares shares last traded at $43.12, with a volume of 87,038 shares.

Analyst Ratings Changes

TCBK has been the subject of a number of research analyst reports. DA Davidson cut TriCo Bancshares from a "buy" rating to a "neutral" rating and increased their price target for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Piper Sandler dropped their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, October 28th. Finally, Stephens decreased their price target on shares of TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. Four 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 stock currently has an average rating of "Hold" and a consensus target price of $48.20.

TriCo Bancshares Trading Down 2.1 %

The stock has a market cap of $1.39 billion, a PE ratio of 12.57 and a beta of 0.58. The company's fifty day moving average is $46.36 and its 200-day moving average is $44.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. The firm had revenue of $133.84 million during the quarter, compared to analyst estimates of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. On average, analysts predict that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.33 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.13%. TriCo Bancshares's dividend payout ratio (DPR) is 39.29%.

Insider Buying and Selling

In other news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the transaction, the director now owns 6,128 shares in the company, valued at $303,152.16. The trade was a 45.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TriCo Bancshares

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in TriCo Bancshares by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider's stock valued at $7,305,000 after purchasing an additional 9,723 shares during the period. Principal Financial Group Inc. lifted its stake in TriCo Bancshares by 7.5% during the 2nd quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider's stock worth $553,000 after acquiring an additional 973 shares in the last quarter. Rhumbline Advisers boosted its holdings in TriCo Bancshares by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 63,125 shares of the financial services provider's stock valued at $2,498,000 after acquiring an additional 1,109 shares during the period. American Century Companies Inc. grew its position in TriCo Bancshares by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider's stock valued at $15,975,000 after acquiring an additional 86,689 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in TriCo Bancshares by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider's stock worth $59,471,000 after purchasing an additional 50,358 shares during the period. Institutional investors and hedge funds own 59.11% of the company's stock.

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.