ValuEngine Downgrades TriCo Bancshares (TCBK) to Hold

ValuEngine lowered shares of TriCo Bancshares (NASDAQ:TCBK) from a buy rating to a hold rating in a research report released on Thursday, January 4th.

Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded TriCo Bancshares from a buy rating to a hold rating in a report on Friday, September 22nd. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $45.00 price target on shares of TriCo Bancshares in a report on Friday, December 22nd. BidaskClub downgraded TriCo Bancshares from a hold rating to a sell rating in a report on Friday, December 15th. Finally, FIG Partners downgraded TriCo Bancshares from an outperform rating to a market perform rating in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. TriCo Bancshares currently has a consensus rating of Hold and a consensus price target of $42.67.

Shares of TriCo Bancshares (TCBK) traded up $0.62 during trading on Thursday, hitting $39.45. The stock had a trading volume of 47,076 shares, compared to its average volume of 91,460. TriCo Bancshares has a 1-year low of $32.76 and a 1-year high of $43.79. The firm has a market capitalization of $890.59, a P/E ratio of 18.26, a PEG ratio of 1.71 and a beta of 0.91. 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 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). The business had revenue of $57.01 million during the quarter, compared to analyst estimates of $56.99 million. TriCo Bancshares had a net margin of 21.87% and a return on equity of 10.17%. analysts forecast that TriCo Bancshares will post 2.18 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Thursday, December 14th. TriCo Bancshares’s dividend payout ratio is currently 31.48%.

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in TriCo Bancshares in the second quarter valued at approximately $129,000. Raymond James Financial Services Advisors Inc. purchased a new stake in TriCo Bancshares in the second quarter valued at approximately $211,000. Susquehanna International Group LLP purchased a new stake in TriCo Bancshares in the second quarter valued at approximately $245,000. Virtu KCG Holdings LLC purchased a new stake in TriCo Bancshares in the second quarter valued at approximately $248,000. Finally, Citadel Advisors LLC purchased a new stake in TriCo Bancshares in the second quarter valued at approximately $265,000. Institutional investors own 68.96% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece of content was posted by Week Herald and is the sole property of of Week Herald. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://weekherald.com/2018/01/11/trico-bancshares-tcbk-downgraded-to-hold-at-valuengine.html.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.

Leave a Reply