TriCo Bancshares (NASDAQ:TCBK) Hits New 52-Week High at $46.69

TriCo Bancshares (NASDAQ:TCBK)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $46.69 and last traded at $46.22, with a volume of 22749 shares traded. The stock had previously closed at $45.42.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

TriCo Bancshares Price Performance

The company has a 50 day simple moving average of $39.04 and a 200-day simple moving average of $36.87. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 14.60 and a beta of 0.56. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.42.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. TriCo Bancshares had a return on equity of 9.75% and a net margin of 21.25%. The firm had revenue of $131.19 million for the quarter, compared to analysts’ expectations of $99.50 million. As a group, research analysts anticipate that TriCo Bancshares will post 3.21 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, June 7th. TriCo Bancshares’s payout ratio is currently 40.24%.

Insider Buying and Selling at TriCo Bancshares

In other TriCo Bancshares news, EVP Craig B. Carney sold 757 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $38.00, for a total transaction of $28,766.00. Following the sale, the executive vice president now owns 32,325 shares in the company, valued at $1,228,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TriCo Bancshares

Several institutional investors have recently made changes to their positions in TCBK. American Century Companies Inc. grew its holdings in shares of TriCo Bancshares by 30.2% during the third quarter. American Century Companies Inc. now owns 151,451 shares of the financial services provider’s stock valued at $4,851,000 after purchasing an additional 35,159 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of TriCo Bancshares by 4.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,223 shares of the financial services provider’s stock valued at $611,000 after purchasing an additional 580 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of TriCo Bancshares by 15.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 117,987 shares of the financial services provider’s stock valued at $5,070,000 after purchasing an additional 16,091 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of TriCo Bancshares by 124.6% during the fourth quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 440 shares during the last quarter. Finally, Bailard Inc. bought a new position in shares of TriCo Bancshares during the fourth quarter valued at approximately $249,000. 59.11% of the stock is owned by institutional investors.

About TriCo Bancshares

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.