TriCo Bancshares (NASDAQ:TCBK) Rating Increased to Buy at BidaskClub

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.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. The company had revenue of $57.28 million for 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 forecast that TriCo Bancshares will post 2.56 earnings per share for the current year.

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.

Analyst Recommendations for TriCo Bancshares (NASDAQ:TCBK)

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