TriCo Bancshares (NASDAQ:TCBK) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, May 30th.
Several other equities analysts have also recently weighed in on TCBK. Keefe, Bruyette & Woods reissued a “hold” rating and set a $44.00 price target on shares of TriCo Bancshares in a report on Wednesday, January 31st. Zacks Investment Research raised TriCo Bancshares from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Saturday, February 3rd. ValuEngine raised TriCo Bancshares from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Sandler O’Neill reiterated a “buy” rating and issued a $44.00 price target on shares of TriCo Bancshares in a research note on Friday, March 23rd. Finally, Raymond James cut their price target on TriCo Bancshares from $44.00 to $43.00 and set an “outperform” rating for the company in a research note on Tuesday, May 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.60.
Shares of TriCo Bancshares traded up $0.04, reaching $38.41, during midday trading on Wednesday, Marketbeat.com reports. 124,100 shares of the stock were exchanged, compared to its average volume of 78,932. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $897.20 million, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.83. TriCo Bancshares has a 1 year low of $33.36 and a 1 year high of $43.79.
Several institutional investors have recently bought and sold shares of TCBK. Kavi Asset Management LP purchased a new position in TriCo Bancshares in the fourth quarter worth $2,858,000. Eagle Asset Management Inc. grew its holdings in shares of TriCo Bancshares by 23.6% during the first quarter. Eagle Asset Management Inc. now owns 307,698 shares of the financial services provider’s stock valued at $11,452,000 after buying an additional 58,656 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of TriCo Bancshares by 9.7% during the first quarter. JPMorgan Chase & Co. now owns 619,877 shares of the financial services provider’s stock valued at $23,072,000 after buying an additional 54,937 shares during the last quarter. Penn Capital Management Co. Inc. purchased a new stake in shares of TriCo Bancshares during the fourth quarter valued at $2,009,000. Finally, Allianz Asset Management GmbH acquired a new position in TriCo Bancshares during the fourth quarter valued at $1,955,000. 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.
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