StockNews.com Upgrades TriCo Bancshares (NASDAQ:TCBK) to “Hold”

TriCo Bancshares (NASDAQ:TCBK) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other equities research analysts also recently commented on the company. Raymond James raised their target price on TriCo Bancshares from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, January 26th. DA Davidson dropped their price target on TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Finally, Keefe, Bruyette & Woods dropped their price target on TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

TriCo Bancshares Trading Up 0.5 %

NASDAQ:TCBK opened at $32.62 on Thursday. TriCo Bancshares has a 1 year low of $28.66 and a 1 year high of $45.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a fifty day moving average price of $34.55 and a two-hundred day moving average price of $35.98. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.27 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.07). TriCo Bancshares had a net margin of 23.49% and a return on equity of 10.64%. The business had revenue of $131.95 million during the quarter, compared to analyst estimates of $101.30 million. As a group, sell-side analysts anticipate that TriCo Bancshares will post 3.25 earnings per share for the current fiscal year.

Institutional Trading of TriCo Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in TriCo Bancshares by 1.2% in the 2nd quarter. BlackRock Inc. now owns 2,334,837 shares of the financial services provider’s stock valued at $77,517,000 after buying an additional 27,432 shares during the period. Franklin Resources Inc. lifted its stake in shares of TriCo Bancshares by 6.0% in the 4th quarter. Franklin Resources Inc. now owns 1,526,919 shares of the financial services provider’s stock valued at $65,612,000 after purchasing an additional 86,141 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of TriCo Bancshares by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 1,418,186 shares of the financial services provider’s stock valued at $56,770,000 after purchasing an additional 52,760 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of TriCo Bancshares by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,414,921 shares of the financial services provider’s stock valued at $60,801,000 after purchasing an additional 64,815 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of TriCo Bancshares by 5.6% in the 2nd quarter. Alliancebernstein L.P. now owns 942,145 shares of the financial services provider’s stock valued at $31,279,000 after purchasing an additional 49,541 shares in the last quarter. 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.