TriCo Bancshares (NASDAQ:TCBK) was downgraded by investment analysts at FIG Partners from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, Marketbeat reports.
Several other equities analysts also recently weighed in on TCBK. Zacks Investment Research downgraded TriCo Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. BidaskClub downgraded TriCo Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $41.50.
TriCo Bancshares (NASDAQ:TCBK) traded down $1.49 during midday trading on Wednesday, reaching $39.85. The company had a trading volume of 200,900 shares, compared to its average volume of 65,083. TriCo Bancshares has a 12-month low of $32.66 and a 12-month high of $43.79. The stock has a market cap of $948.40, a P/E ratio of 19.23, a P/E/G ratio of 1.89 and a beta of 0.90. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.31.
A number of institutional investors have recently added to or reduced their stakes in TCBK. Vanguard Group Inc. increased its position in TriCo Bancshares by 5.6% during the first quarter. Vanguard Group Inc. now owns 837,658 shares of the financial services provider’s stock worth $29,762,000 after buying an additional 44,746 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position 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 buying an additional 3,933 shares in the last quarter. Aperio Group LLC increased its position in TriCo Bancshares by 13.1% during the second quarter. Aperio Group LLC now owns 7,796 shares of the financial services provider’s stock worth $274,000 after buying an additional 901 shares in the last quarter. Russell Investments Group Ltd. increased its position in TriCo Bancshares by 7.4% during the second quarter. Russell Investments Group Ltd. now owns 87,547 shares of the financial services provider’s stock worth $3,078,000 after buying an additional 6,002 shares in the last quarter. Finally, Sei Investments Co. increased its position in TriCo Bancshares by 12.1% during the second quarter. Sei Investments Co. now owns 23,618 shares of the financial services provider’s stock worth $830,000 after buying an additional 2,546 shares in the last quarter. 69.93% of the stock is owned by institutional investors.
TriCo Bancshares Company Profile
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.
