TriCo Bancshares (NASDAQ:TCBK) Rating Increased to Hold at StockNews.com

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

Several other research analysts have also recently commented on TCBK. Raymond James boosted their price target on TriCo Bancshares from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. DA Davidson cut their price objective on shares of TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods reduced their price objective 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

TriCo Bancshares Stock Up 2.6 %

Shares of NASDAQ:TCBK opened at $35.69 on Tuesday. The company has a market capitalization of $1.18 billion, a P/E ratio of 10.88 and a beta of 0.53. 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’s fifty day simple moving average is $34.30 and its 200-day simple moving average is $36.21. TriCo Bancshares has a 52-week low of $28.66 and a 52-week high of $45.84.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $131.19 million during the quarter, compared to the consensus estimate of $99.50 million. TriCo Bancshares had a return on equity of 9.87% and a net margin of 21.25%. As a group, equities research analysts forecast that TriCo Bancshares will post 3.26 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. BNP Paribas Financial Markets increased its stake in shares of TriCo Bancshares by 200.3% in the 1st quarter. BNP Paribas Financial Markets now owns 24,384 shares of the financial services provider’s stock valued at $897,000 after acquiring an additional 16,263 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in TriCo Bancshares by 36.2% in the 1st quarter. Principal Financial Group Inc. now owns 13,005 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 3,460 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of TriCo Bancshares during the 1st quarter worth $2,141,000. RMB Capital Management LLC increased its holdings in shares of TriCo Bancshares by 0.3% during the fourth quarter. RMB Capital Management LLC now owns 317,496 shares of the financial services provider’s stock worth $13,643,000 after buying an additional 840 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in TriCo Bancshares during the 4th quarter worth approximately $8,000,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

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.