TriCo Bancshares (TCBK) has reached a new 52-week high, with its shares trading at $47.99. This milestone reflects the strong performance of the company over the past year, marking a significant increase in its stock value. The 52-week high of $47.99 is a testament to the company's resilience and strategic growth initiatives, which have been well-received by investors. Over the past year, TriCo Bancshares has seen a substantial change in its stock value, with a 20.92% increase. This positive trend underscores the company's robust financial health and its potential for further growth in the coming months.
InvestingPro Insights
TriCo Bancshares (TCBK) not only hit a new 52-week high but has also demonstrated a solid financial performance with a notable Price to Earnings (P/E) Ratio of 13.99, reflecting investor confidence in the company's earnings capacity. Adjusted for the last twelve months as of Q1 2024, the P/E ratio stands slightly higher at 14.35. The company's Price to Book ratio during the same period is 1.35, suggesting that the stock might be reasonably valued in relation to the company's assets.
InvestingPro Tips reveal that TriCo Bancshares has a history of rewarding its shareholders, having raised its dividend for 11 consecutive years and maintained dividend payments for 32 years. These dividends have grown by 10.0% over the last twelve months as of Q1 2024, with a current yield of 2.87%. Additionally, the company's share price has seen a strong return over the last month (25.6%) and three months (35.46%), indicating a positive short-term momentum.
For investors looking to delve deeper into TriCo Bancshares' performance and for more InvestingPro Tips, visit https://www.investing.com/pro/TCBK. There are more tips available that could provide further insights into the company's profitability and stock performance. To access these additional tips and comprehensive analysis tools, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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