Other analysts have also recently issued reports about the company. Zacks Investment Research cut TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, January 10th. ValuEngine downgraded shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Piper Jaffray Companies boosted their price objective on shares of TriCo Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. TriCo Bancshares presently has an average rating of “Hold” and a consensus target price of $42.25.
NASDAQ:TCBK traded up $0.20 during trading hours on Tuesday, hitting $39.15. The stock had a trading volume of 1,605 shares, compared to its average volume of 58,528. The business’s 50 day moving average is $39.91 and its 200-day moving average is $37.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 14.55 and a beta of 0.88. TriCo Bancshares has a one year low of $34.49 and a one year high of $41.42.
TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The firm had revenue of $78.80 million for the quarter, compared to analyst estimates of $77.91 million. TriCo Bancshares had a return on equity of 10.70% and a net margin of 28.45%. On average, sell-side analysts anticipate that TriCo Bancshares will post 2.99 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in TCBK. First Trust Advisors LP raised its stake in TriCo Bancshares by 12.5% in the 1st quarter. First Trust Advisors LP now owns 36,330 shares of the financial services provider’s stock valued at $1,427,000 after acquiring an additional 4,046 shares during the period. Wells Fargo & Company MN grew its stake in TriCo Bancshares by 1.0% in the 2nd quarter. Wells Fargo & Company MN now owns 66,054 shares of the financial services provider’s stock valued at $2,497,000 after buying an additional 632 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in TriCo Bancshares by 3.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 157,429 shares of the financial services provider’s stock valued at $5,951,000 after buying an additional 5,881 shares during the last quarter. LPL Financial LLC bought a new position in TriCo Bancshares in the 2nd quarter valued at about $438,000. Finally, Northern Trust Corp raised its holdings in TriCo Bancshares by 1.5% in the 2nd quarter. Northern Trust Corp now owns 631,654 shares of the financial services provider’s stock valued at $23,876,000 after acquiring an additional 9,265 shares during the period. Hedge funds and other institutional investors own 62.36% 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. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.
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