Zacks Investment Research upgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a hold rating to a buy rating in a research note issued to investors on Thursday, November 2nd. The firm currently has $46.00 price target on the financial services provider’s stock.
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. “
Separately, BidaskClub cut shares of TriCo Bancshares from a sell rating to a strong sell rating in a research report on Saturday, August 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $41.50.
Shares of TriCo Bancshares (NASDAQ:TCBK) traded down $0.07 during mid-day trading on Thursday, hitting $41.53. 74,982 shares of the stock traded hands, compared to its average volume of 64,014. The stock has a market cap of $949.43, a price-to-earnings ratio of 19.28, a P/E/G ratio of 1.89 and a beta of 0.92. TriCo Bancshares has a 12 month low of $29.01 and a 12 month high of $43.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 0.79.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). The firm had revenue of $57.01 million during the quarter, compared to the consensus estimate of $56.99 million. TriCo Bancshares had a net margin of 21.87% and a return on equity of 10.17%. equities research analysts anticipate that TriCo Bancshares will post 2.19 earnings per share for the current fiscal year.
In related news, EVP Craig B. Carney sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $36.00, for a total transaction of $180,000.00. Following the sale, the executive vice president now owns 18,294 shares of the company’s stock, valued at $658,584. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of TriCo Bancshares during the second quarter valued at approximately $129,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of TriCo Bancshares in the second quarter worth approximately $211,000. Karp Capital Management Corp bought a new position in shares of TriCo Bancshares in the first quarter worth approximately $245,000. Trexquant Investment LP bought a new position in shares of TriCo Bancshares in the second quarter worth approximately $243,000. Finally, Susquehanna International Group LLP bought a new position in shares of TriCo Bancshares in the second quarter worth approximately $245,000. 69.56% of the stock is owned by hedge funds and other institutional investors.
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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