The stock of TriCo Bancshares (NASDAQ:TCBK) hit a new 52-week high and has $37.12 target or 21.00% above today’s $30.68 share price. The 9 months bullish chart indicates low risk for the $709.96M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $37.12 price target is reached, the company will be worth $149.09M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 38,413 shares traded hands. TriCo Bancshares (NASDAQ:TCBK) has risen 17.25% since April 19, 2016 and is uptrending. It has outperformed by 13.39% the S&P500.
TriCo Bancshares (NASDAQ:TCBK) Ratings Coverage
Out of 2 analysts covering TriCo Bancshares (NASDAQ:TCBK), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. TriCo Bancshares has been the topic of 2 analyst reports since January 29, 2016 according to StockzIntelligence Inc. The firm has “Market Perform” rating given on Friday, July 29 by Keefe Bruyette & Woods.
According to Zacks Investment Research, “TriCo Bancshares is a bank holding company for Tri Counties Bank. The Bank conducts a commercial banking business including accepting demand, savings and time deposits and making commercial, real estate, and consumer loans.”
Insitutional Activity: The institutional sentiment increased to 1.34 in Q2 2016. Its up 0.28, from 1.06 in 2016Q1. The ratio is positive, as 3 funds sold all TriCo Bancshares shares owned while 46 reduced positions. 15 funds bought stakes while 37 increased positions. They now own 14.90 million shares or 0.16% less from 14.93 million shares in 2016Q1.
Mutual Of America Capital Mngmt Ltd Liability owns 60,404 shares or 0.04% of their US portfolio. Piermont Capital Management last reported 59,213 shares in the company. Renaissance Llc accumulated 0.03% or 613,737 shares. Us Financial Bank De holds 283 shares or 0% of its portfolio. Sei Invests has invested 0% of its portfolio in TriCo Bancshares (NASDAQ:TCBK). Counselors Of Maryland Ltd Liability Corporation holds 0.99% or 657,402 shares in its portfolio. Allianz Asset Management Ag has 12,307 shares for 0% of their US portfolio. Moreover, Tiaa Cref Investment Ltd Liability Corp has 0% invested in TriCo Bancshares (NASDAQ:TCBK) for 127,108 shares. Walthausen & Co Limited Liability Co has 367,320 shares for 1.05% of their US portfolio. Envestnet Asset Mgmt accumulated 0% or 1,491 shares. Invesco Ltd last reported 0% of its portfolio in the stock. Virginia Retirement Et Al has 12,100 shares for 0% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% of its portfolio in TriCo Bancshares (NASDAQ:TCBK) for 549 shares. Gsa Capital Prtn Ltd Liability Partnership accumulated 23,347 shares or 0.04% of the stock. Lsv Asset Management has 388,708 shares for 0.02% of their US portfolio.
Insider Transactions: Since May 23, 2016, the stock had 0 insider buys, and 4 selling transactions for $291,315 net activity. Another trade for 2,000 shares valued at $56,000 was made by REDDISH THOMAS J on Wednesday, May 25. Another trade for 651 shares valued at $18,384 was made by Ward Carol A on Tuesday, June 14. $692,060 worth of TriCo Bancshares (NASDAQ:TCBK) shares were sold by OSULLIVAN RICHARD B. CARNEY CRAIG B sold $126,368 worth of stock or 4,679 shares.
More recent TriCo Bancshares (NASDAQ:TCBK) news were published by: Businesswire.com which released: “TriCo Bancshares to Participate at Raymond James 2015 U.S. Bank Conference” on September 05, 2015. Also Businesswire.com published the news titled: “TriCo Bancshares Announces the Completion of Its Merger with North Valley Bancorp” on October 04, 2014. Equitiesfocus.com‘s news article titled: “TriCo Bancshares (NASDAQ:TCBK) Stock Gets Revised Target Of $28.80” with publication date: November 21, 2016 was also an interesting one.
TCBK Company Profile
TriCo Bancshares, incorporated on October 13, 1981, is the bank holding firm of Tri Counties Bank (the Bank). The Firm operates through community banking segment. The Bank is engaged in the general commercial banking business in approximately 30 counties in Northern and Central California. The Bank operates from over 50 traditional branches and over 10 in-store branches. It conducts a commercial banking business, including accepting demand, savings and time deposits, and making commercial, real estate and consumer loans. It also offers installment note collection, issues cashier’s checks, sells travelers checks, and provides safe deposit boxes and other customary banking services. The Bank provides brokerage services at its offices by the association with Raymond James Financial Services, Inc., a financial services well-known provider and broker-dealer. The Bank is focused on retail banking operations. The Bank’s clients are retail clients and small to medium-sized businesses. The Bank focuses on serving the needs of local businesses, farmers and ranchers, retired individuals and wage earners.
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