TriCo Bancshares (NASDAQ:TCBK) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK) have been given an average rating of “Moderate Buy” by the six analysts that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $47.80.

TCBK has been the subject of several research analyst reports. Keefe, Bruyette & Woods lowered their price objective on TriCo Bancshares from $48.00 to $46.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Raymond James lowered their target price on shares of TriCo Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Stephens reiterated an “overweight” rating and set a $47.00 target price on shares of TriCo Bancshares in a research note on Monday, April 28th.

TriCo Bancshares Trading Down 2.5%

NASDAQ:TCBK opened at $39.99 on Thursday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 11.56 and a beta of 0.59. TriCo Bancshares has a one year low of $35.20 and a one year high of $51.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50-day simple moving average is $39.08 and its 200 day simple moving average is $42.88.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. The company had revenue of $98.62 million for the quarter, compared to analyst estimates of $99.59 million. As a group, sell-side analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TriCo Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCBK. Barclays PLC grew its holdings in TriCo Bancshares by 127.0% in the 3rd quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock worth $2,468,000 after buying an additional 32,379 shares in the last quarter. SG Americas Securities LLC grew its position in TriCo Bancshares by 27.1% in the 4th quarter. SG Americas Securities LLC now owns 11,783 shares of the financial services provider’s stock valued at $515,000 after buying an additional 2,512 shares in the last quarter. Golden State Wealth Management LLC bought a new position in TriCo Bancshares in the 4th quarter valued at about $212,000. Rhumbline Advisers grew its position in TriCo Bancshares by 1.1% in the 4th quarter. Rhumbline Advisers now owns 59,033 shares of the financial services provider’s stock valued at $2,580,000 after buying an additional 652 shares in the last quarter. Finally, Allworth Financial LP grew its position in TriCo Bancshares by 21.7% in the 4th quarter. Allworth Financial LP now owns 7,937 shares of the financial services provider’s stock valued at $341,000 after buying an additional 1,413 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.