TriCo Bancshares (TCBK) Downgraded by Zacks Investment Research to “Hold”

TriCo Bancshares (NASDAQ:TCBK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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. “

TCBK has been the topic of several other research reports. BidaskClub downgraded shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 15th. ValuEngine downgraded shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 price target on shares of TriCo Bancshares in a research note on Wednesday, January 31st. Finally, FIG Partners downgraded shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 13th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. TriCo Bancshares currently has a consensus rating of “Hold” and an average price target of $41.00.

TriCo Bancshares (TCBK) traded up $0.05 during mid-day trading on Wednesday, hitting $36.76. 46,100 shares of the stock traded hands, compared to its average volume of 82,610. TriCo Bancshares has a 1 year low of $32.76 and a 1 year high of $43.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $842.71, a P/E ratio of 21.13, a PEG ratio of 1.39 and a beta of 0.89.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.08). TriCo Bancshares had a return on equity of 9.74% and a net margin of 17.52%. The company had revenue of $57.57 million during the quarter, compared to analysts’ expectations of $58.45 million. equities analysts expect that TriCo Bancshares will post 2.64 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in TCBK. Thomson Horstmann & Bryant bought a new position in TriCo Bancshares during the fourth quarter valued at $10,133,000. Boston Advisors grew its holdings in TriCo Bancshares by 180.2% during the 4th quarter. Boston Advisors now owns 271,308 shares of the financial services provider’s stock worth $7,445,000 after acquiring an additional 174,493 shares in the last quarter. Russell Frank Co lifted its position in shares of TriCo Bancshares by 166.8% during the fourth quarter. Russell Frank Co now owns 66,193 shares of the financial services provider’s stock valued at $1,853,000 after buying an additional 41,379 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of TriCo Bancshares by 39.8% during the fourth quarter. Nationwide Fund Advisors now owns 145,041 shares of the financial services provider’s stock valued at $3,980,000 after buying an additional 41,299 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of TriCo Bancshares by 1.7% during the fourth quarter. California State Teachers Retirement System now owns 42,122 shares of the financial services provider’s stock valued at $1,156,000 after buying an additional 689 shares during the last quarter. 68.38% of the stock is currently owned by institutional investors.

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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.

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