TriCo Bancshares (NASDAQ:TCBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $46.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.06% from the stock’s previous close.

According to Zacks, “TriCo Bancshares is a bank holding company for Tri Counties Bank. The Bank conducts a commercial banking business including accepting demand, savings and time deposits and making commercial, real estate, and consumer loans. “

Separately, BidaskClub cut TriCo Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $41.50.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). The firm had revenue of $57.01 million for the quarter, compared to analyst estimates of $56.99 million. TriCo Bancshares had a return on equity of 10.27% and a net margin of 21.87%.

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In other news, EVP Craig B. Carney sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $36.00, for a total transaction of $180,000.00. Following the completion of the transaction, the executive vice president now directly owns 18,294 shares of the company’s stock, valued at $658,584. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.10% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Eagle Asset Management Inc. acquired a new position in shares of TriCo Bancshares during the second quarter worth about $6,843,000. First Trust Advisors LP raised its holdings in TriCo Bancshares by 22.9% during the second quarter. First Trust Advisors LP now owns 72,166 shares of the financial services provider’s stock worth $2,537,000 after acquiring an additional 13,432 shares in the last quarter. Context BH Capital Management LP raised its holdings in TriCo Bancshares by 10.1% during the second quarter. Context BH Capital Management LP now owns 54,484 shares of the financial services provider’s stock worth $1,915,000 after acquiring an additional 5,004 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in TriCo Bancshares by 5.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 79,424 shares of the financial services provider’s stock worth $2,822,000 after acquiring an additional 3,933 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in TriCo Bancshares by 6.5% during the second quarter. Victory Capital Management Inc. now owns 56,361 shares of the financial services provider’s stock worth $1,981,000 after acquiring an additional 3,437 shares in the last quarter. 68.74% of the stock is owned by institutional investors.

About TriCo Bancshares

TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.

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