TriCo Bancshares (NASDAQ:TCBK) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a hold rating to a sell rating in a research note published on Monday.

A number of other equities research analysts have also weighed in on the company. Keefe, Bruyette & Woods decreased their target price 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. Raymond James lifted their target price on TriCo Bancshares from $36.00 to $40.00 and gave the company an outperform rating in a research report on Friday, January 26th. Finally, DA Davidson decreased their target price 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $42.00.

TriCo Bancshares Price Performance

TCBK opened at $34.17 on Monday. The business has a fifty day moving average of $34.33 and a 200 day moving average of $36.10. TriCo Bancshares has a 52-week low of $28.66 and a 52-week high of $45.84. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The stock has a market cap of $1.14 billion, a P/E ratio of 9.71 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.78 earnings per share (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 for the quarter, compared to analysts’ expectations of $101.30 million. As a group, sell-side analysts anticipate that TriCo Bancshares will post 3.25 EPS for the current year.

TriCo Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.86%. This is a positive change from TriCo Bancshares’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, March 7th. TriCo Bancshares’s payout ratio is presently 37.50%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its position 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 worth $65,612,000 after acquiring an additional 86,141 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 worth $60,801,000 after acquiring an additional 64,815 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of TriCo Bancshares by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 342,419 shares of the financial services provider’s stock worth $14,714,000 after acquiring an additional 14,200 shares in the last quarter. RMB Capital Management LLC raised its position in shares of TriCo Bancshares by 0.3% in the 4th quarter. RMB Capital Management LLC now owns 317,496 shares of the financial services provider’s stock worth $13,643,000 after acquiring an additional 840 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of TriCo Bancshares by 37.6% in the 3rd quarter. Schroder Investment Management Group now owns 282,820 shares of the financial services provider’s stock worth $9,059,000 after acquiring an additional 77,221 shares in the last quarter. 59.11% of the stock is owned by institutional investors.

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.