TriCo Bancshares (TCBK) Boosted to “Hold” at Zacks Investment Research

TriCo Bancshares (TCBK) Boosted  to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a sell rating to a hold rating in a report published 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. “

Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of TriCo Bancshares from a buy rating to a hold rating in a research note on Friday, July 13th. ValuEngine raised shares of TriCo Bancshares from a sell rating to a hold rating in a research note on Monday, October 29th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. TriCo Bancshares has an average rating of Buy and a consensus price target of $43.60.

Shares of TCBK traded up $0.31 on Wednesday, reaching $36.98. 1,188 shares of the company’s stock were exchanged, compared to its average volume of 61,949. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.04 and a beta of 0.80. TriCo Bancshares has a 12 month low of $33.35 and a 12 month high of $43.79.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Monday, October 29th. The financial services provider reported $0.53 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.53. The business had revenue of $72.68 million during the quarter, compared to the consensus estimate of $72.54 million. TriCo Bancshares had a net margin of 18.77% and a return on equity of 11.22%. As a group, analysts expect that TriCo Bancshares will post 2.57 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its holdings in TriCo Bancshares by 2.8% during the first quarter. Wells Fargo & Company MN now owns 55,243 shares of the financial services provider’s stock valued at $2,055,000 after purchasing an additional 1,505 shares during the period. Victory Capital Management Inc. grew its holdings in TriCo Bancshares by 2.5% during the second quarter. Victory Capital Management Inc. now owns 63,001 shares of the financial services provider’s stock valued at $2,359,000 after purchasing an additional 1,563 shares during the period. Rhumbline Advisers grew its holdings in TriCo Bancshares by 9.9% during the second quarter. Rhumbline Advisers now owns 22,455 shares of the financial services provider’s stock valued at $841,000 after purchasing an additional 2,025 shares during the period. California Public Employees Retirement System grew its holdings in TriCo Bancshares by 5.7% during the first quarter. California Public Employees Retirement System now owns 39,541 shares of the financial services provider’s stock valued at $1,472,000 after purchasing an additional 2,125 shares during the period. Finally, SG Americas Securities LLC acquired a new position in TriCo Bancshares during the second quarter valued at approximately $110,000. 53.92% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to retail customers and small to medium-sized businesses. It accepts demand, savings, and money market accounts, as well as time deposits; and provides residential and commercial real estate mortgage, consumer, commercial, agricultural, and real estate construction loans.

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