TriCo Bancshares (TCBK) Raised to “Buy” at BidaskClub

Share on StockTwits

BidaskClub upgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a hold rating to a buy rating in a report issued on Friday.

A number of other research analysts also recently commented on the company. Sandler O’Neill reaffirmed a buy rating and issued a $44.00 price target on shares of TriCo Bancshares in a research note on Friday, March 23rd. Zacks Investment Research raised TriCo Bancshares from a hold rating to a buy rating and set a $44.00 price target for the company in a research note on Wednesday, March 14th. ValuEngine raised TriCo Bancshares from a hold rating to a buy rating in a research note on Wednesday, March 7th. Keefe, Bruyette & Woods raised TriCo Bancshares from a market perform rating to an outperform rating in a research note on Tuesday, March 13th. Finally, Stephens initiated coverage on TriCo Bancshares in a research note on Friday, May 11th. They issued an overweight rating and a $43.00 price target for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. TriCo Bancshares currently has a consensus rating of Buy and an average price target of $43.60.

TriCo Bancshares opened at $39.77 on Friday, MarketBeat Ratings reports. The stock has a market capitalization of $902.48 million, a P/E ratio of 19.12, a P/E/G ratio of 1.54 and a beta of 0.83. TriCo Bancshares has a 52 week low of $33.36 and a 52 week high of $43.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.79 and a quick ratio of 0.79.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The business had revenue of $57.28 million during the quarter, compared to the consensus estimate of $58.89 million. TriCo Bancshares had a return on equity of 10.06% and a net margin of 17.99%. sell-side analysts predict that TriCo Bancshares will post 2.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, June 14th. TriCo Bancshares’s payout ratio is 32.69%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. WINTON GROUP Ltd acquired a new position in TriCo Bancshares during the first quarter worth about $512,000. Ladenburg Thalmann Financial Services Inc. raised its stake in TriCo Bancshares by 10.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,295 shares of the financial services provider’s stock worth $644,000 after acquiring an additional 1,569 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in TriCo Bancshares by 0.8% during the first quarter. The Manufacturers Life Insurance Company now owns 976,215 shares of the financial services provider’s stock worth $36,334,000 after acquiring an additional 7,944 shares in the last quarter. Crawford Investment Counsel Inc. raised its stake in TriCo Bancshares by 8.0% during the first quarter. Crawford Investment Counsel Inc. now owns 101,797 shares of the financial services provider’s stock worth $3,789,000 after acquiring an additional 7,500 shares in the last quarter. Finally, RMB Capital Management LLC raised its stake in TriCo Bancshares by 13.2% during the first quarter. RMB Capital Management LLC now owns 162,611 shares of the financial services provider’s stock worth $6,052,000 after acquiring an additional 18,975 shares in the last quarter. 71.07% 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 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.

Analyst Recommendations for TriCo Bancshares (NASDAQ:TCBK)

Receive News & Ratings for TriCo Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriCo Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.