TriCo Bancshares (NASDAQ:TCBK) Stock Rating Lowered by StockNews.com

TriCo Bancshares (NASDAQ:TCBK) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

A number of other equities analysts have also recently issued reports on the company. DA Davidson cut their price target on TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Raymond James increased their price target on TriCo Bancshares from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Finally, Keefe, Bruyette & Woods cut their price target on TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.00.

TriCo Bancshares Stock Performance

TriCo Bancshares stock opened at $34.88 on Monday. The business has a 50 day moving average of $34.33 and a 200-day moving average of $36.10. TriCo Bancshares has a 1 year low of $28.66 and a 1 year high of $45.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $1.16 billion, a P/E ratio of 9.91 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.07). TriCo Bancshares had a net margin of 23.49% and a return on equity of 10.64%. The company had revenue of $131.95 million during the quarter, compared to the consensus estimate of $101.30 million. On average, equities research analysts predict that TriCo Bancshares will post 3.25 earnings per share for the current year.

Institutional Investors Weigh In On TriCo Bancshares

Several large investors have recently made changes to their positions in TCBK. Lindbrook Capital LLC increased its position in shares of TriCo Bancshares by 124.6% during the 4th quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 440 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of TriCo Bancshares by 470.9% during the 4th quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 777 shares during the last quarter. Quantbot Technologies LP increased its position 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 valued at $158,000 after purchasing an additional 1,631 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of TriCo Bancshares during the 3rd quarter valued at $213,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of TriCo Bancshares by 39.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,215 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 2,024 shares during the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

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.