TriCo Bancshares (NASDAQ:TCBK) Upgraded to Hold by StockNews.com

TriCo Bancshares (NASDAQ:TCBK) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Several other analysts have also recently commented on TCBK. Raymond James lifted their price target on TriCo Bancshares from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Keefe, Bruyette & Woods dropped their price target on shares of 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. Finally, DA Davidson decreased their price target on shares of TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, TriCo Bancshares currently has an average rating of “Moderate Buy” and an average target price of $42.00.

TriCo Bancshares Stock Performance

Shares of TCBK opened at $34.78 on Tuesday. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 10.60 and a beta of 0.53. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. TriCo Bancshares has a 1 year low of $28.66 and a 1 year high of $45.84. The company’s 50 day simple moving average is $34.28 and its 200 day simple moving average is $36.17.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $131.19 million for the quarter, compared to analyst estimates of $99.50 million. TriCo Bancshares had a return on equity of 9.87% and a net margin of 21.25%. On average, sell-side analysts predict that TriCo Bancshares will post 3.23 EPS for the current year.

Institutional Investors Weigh In On TriCo Bancshares

Several institutional investors have recently bought and sold shares of TCBK. Lindbrook Capital LLC grew its stake in shares of TriCo Bancshares by 124.6% in the fourth quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock valued at $34,000 after buying an additional 440 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of TriCo Bancshares by 470.9% during the fourth quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 777 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of TriCo Bancshares by 49.6% in the third quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 1,631 shares during the period. Aigen Investment Management LP acquired a new stake in TriCo Bancshares during the 3rd quarter valued at $213,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in TriCo Bancshares by 39.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,215 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 2,024 shares in the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

About TriCo Bancshares

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.