TriCo Bancshares (TCBK) Downgraded to Hold at ValuEngine

TriCo Bancshares (NASDAQ:TCBK) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

TCBK has been the subject of several other reports. Keefe, Bruyette & Woods reissued a “hold” rating and set a $43.00 price objective on shares of TriCo Bancshares in a research note on Thursday, December 14th. FIG Partners cut shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 13th. Zacks Investment Research cut shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, BidaskClub cut shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. TriCo Bancshares currently has a consensus rating of “Hold” and a consensus price target of $42.67.

TriCo Bancshares (TCBK) traded up $0.29 during mid-day trading on Thursday, reaching $38.80. 97,830 shares of the company’s stock traded hands, compared to its average volume of 98,267. The stock has a market cap of $874.30, a PE ratio of 18.05, a P/E/G ratio of 1.69 and a beta of 0.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.79 and a quick ratio of 0.79. TriCo Bancshares has a 12-month low of $32.66 and a 12-month high of $43.79.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Tuesday, October 31st. The financial services provider reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). The firm had revenue of $57.01 million during the quarter, compared to analysts’ expectations of $56.99 million. TriCo Bancshares had a return on equity of 10.17% and a net margin of 21.87%. equities analysts anticipate that TriCo Bancshares will post 2.18 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in TriCo Bancshares in the 2nd quarter worth $129,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of TriCo Bancshares in the 2nd quarter valued at about $211,000. Susquehanna International Group LLP acquired a new stake in shares of TriCo Bancshares in the 2nd quarter valued at about $245,000. Virtu KCG Holdings LLC acquired a new stake in shares of TriCo Bancshares in the 2nd quarter valued at about $248,000. Finally, Citadel Advisors LLC acquired a new stake in shares of TriCo Bancshares in the 2nd quarter valued at about $265,000. Hedge funds and other institutional investors own 68.96% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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