TriCo Bancshares (NASDAQ:TCBK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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 downgraded TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.50.

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

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In other news, EVP Craig B. Carney sold 5,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 18,294 shares in the company, valued at $658,584. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.10% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in shares of TriCo Bancshares by 0.3% during the second quarter. Alps Advisors Inc. now owns 13,390 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 34 shares during the last quarter. Federated Investors Inc. PA raised its stake in shares of TriCo Bancshares by 0.3% during the second quarter. Federated Investors Inc. PA now owns 11,701 shares of the financial services provider’s stock worth $411,000 after purchasing an additional 35 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of TriCo Bancshares by 0.4% during the second quarter. Wells Fargo & Company MN now owns 39,785 shares of the financial services provider’s stock worth $1,398,000 after purchasing an additional 141 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of TriCo Bancshares by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 55,529 shares of the financial services provider’s stock worth $1,952,000 after purchasing an additional 291 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of TriCo Bancshares by 1.2% during the second quarter. Bessemer Group Inc. now owns 34,300 shares of the financial services provider’s stock worth $1,206,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 68.74% of the company’s stock.

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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