TriCo Bancshares (NASDAQ:TCBK) Upgraded at StockNews.com

TriCo Bancshares (NASDAQ:TCBK) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other research firms have also weighed in on TCBK. DA Davidson dropped their price objective on shares of TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Raymond James upped their price target on shares of TriCo Bancshares from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods reduced their price objective on TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.00.

TriCo Bancshares Stock Performance

Shares of TriCo Bancshares stock opened at $34.78 on Tuesday. The stock has a market cap of $1.15 billion, a PE ratio of 10.60 and a beta of 0.53. TriCo Bancshares has a 12 month low of $28.66 and a 12 month high of $45.84. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $34.28 and a 200-day simple moving average of $36.17.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $131.19 million for the quarter, compared to analysts’ expectations of $99.50 million. TriCo Bancshares had a return on equity of 9.87% and a net margin of 21.25%. On average, sell-side analysts anticipate that TriCo Bancshares will post 3.23 EPS for the current fiscal year.

Institutional Investors Weigh In On TriCo Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC increased its position in TriCo Bancshares by 124.6% during the fourth quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock worth $34,000 after buying an additional 440 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of TriCo Bancshares by 470.9% in the fourth quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock worth $40,000 after buying an additional 777 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of TriCo Bancshares by 49.6% during the 3rd quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 1,631 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of TriCo Bancshares during the 3rd quarter valued at about $213,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in TriCo Bancshares by 39.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,215 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 2,024 shares during the period. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.