TriCo Bancshares (NASDAQ:TCBK) Shares Cross Below 50 Day Moving Average – Should You Sell?

TriCo Bancshares (NASDAQ:TCBK)’s share price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $52.68 and traded as low as $51.93. TriCo Bancshares shares last traded at $52.34, with a volume of 128,918 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TCBK. Piper Sandler downgraded shares of TriCo Bancshares from a “neutral” rating to a “hold” rating in a research report on Monday, October 26th. DA Davidson reiterated a “neutral” rating and set a $55.00 price objective on shares of TriCo Bancshares in a research report on Tuesday, October 27th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research note on Friday, October 2nd. Raymond James Financial downgraded shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 14th. Finally, Stephens upgraded shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, TriCo Bancshares presently has an average rating of “Hold” and an average price target of $55.62.

TriCo Bancshares Trading Down 0.8%

The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $52.68 and a 200 day moving average of $52.07. The company has a market cap of $1.67 billion, a P/E ratio of 12.14 and a beta of 0.67.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Wednesday, October 21st. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.09 by $0.09. The business had revenue of $116.71 million during the quarter, compared to analysts’ expectations of $114.63 million. TriCo Bancshares had a return on equity of 10.48% and a net margin of 25.10%. On average, analysts predict that TriCo Bancshares will post 4.39 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, November 16th. TriCo Bancshares’s dividend payout ratio is presently 33.41%.

Institutional Trading of TriCo Bancshares

Several large investors have recently modified their holdings of TCBK. BlackRock Inc. acquired a new stake in shares of TriCo Bancshares during the 2nd quarter worth approximately $137,197,000. Dimensional Fund Advisors LP lifted its position in shares of TriCo Bancshares by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,696,463 shares of the financial services provider’s stock valued at $80,650,000 after acquiring an additional 11,298 shares during the period. Davis Asset Management L.P. acquired a new position in shares of TriCo Bancshares during the 2nd quarter valued at $56,376,000. The Manufacturers Life Insurance Company acquired a new position in shares of TriCo Bancshares during the 2nd quarter valued at $22,526,000. Finally, First Trust Capital Management L.P. bought a new position in TriCo Bancshares during the third quarter worth $16,315,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Company Profile

TriCo Bancshares is a bank holding company whose principal subsidiary is Tri Counties Bank. The bank offers personal and business banking services, including checking and savings accounts, loans, credit cards, and online and mobile banking. For businesses, Tri Counties Bank provides commercial lending, deposit accounts, cash management, and related financial services. It also offers wealth management and trust services to individuals and organizations. Founded in 1975 and headquartered in Chico, California, Tri Counties Bank serves communities across Northern and Central California, including the Sacramento region and the Central Valley.