TriCo Bancshares (NASDAQ:TCBK) Reaches New 12-Month High at $46.69

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

Analyst Ratings Changes

Separately, StockNews.com raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.00.

TriCo Bancshares Stock Up 3.2 %

The stock’s fifty day moving average is $38.71 and its two-hundred day moving average is $36.77. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42. The firm has a market cap of $1.56 billion, a P/E ratio of 13.98 and a beta of 0.56.

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

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.82%. TriCo Bancshares’s dividend payout ratio is presently 40.24%.

Insiders Place Their Bets

In other TriCo Bancshares news, EVP Craig B. Carney sold 757 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $38.00, for a total value of $28,766.00. Following the completion of the transaction, the executive vice president now owns 32,325 shares of the company’s stock, valued at approximately $1,228,350. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.64% of the company’s stock.

Hedge Funds Weigh In On TriCo Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of TCBK. Lindbrook Capital LLC grew its stake in TriCo Bancshares by 124.6% in the 4th quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock worth $34,000 after buying an additional 440 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of TriCo Bancshares by 470.9% in the 4th quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 777 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of TriCo Bancshares by 8.2% in the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 287 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of TriCo Bancshares by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 439 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of TriCo Bancshares in the 1st quarter valued at $227,000. Hedge funds and other institutional investors 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.