TriCo Bancshares (TCBK) Rating Increased to Hold at Zacks Investment Research

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TriCo Bancshares (NASDAQ:TCBK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

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. “

Several other research firms also recently weighed in on TCBK. BidaskClub upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, September 8th. ValuEngine upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, October 29th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. TriCo Bancshares presently has a consensus rating of “Buy” and a consensus price target of $43.60.

Shares of NASDAQ:TCBK traded down $0.62 on Wednesday, hitting $36.10. 6,537 shares of the company’s stock were exchanged, compared to its average volume of 62,834. TriCo Bancshares has a 12 month low of $33.35 and a 12 month high of $43.79. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 2.08 and a beta of 0.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.41.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Monday, October 29th. The financial services provider reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. TriCo Bancshares had a return on equity of 11.22% and a net margin of 18.77%. The business had revenue of $72.68 million during the quarter, compared to the consensus estimate of $72.54 million. As a group, equities research analysts predict that TriCo Bancshares will post 2.57 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in TCBK. SG Americas Securities LLC purchased a new position in shares of TriCo Bancshares during the second quarter valued at $110,000. First Quadrant L P CA purchased a new position in shares of TriCo Bancshares during the third quarter valued at $121,000. Creative Planning purchased a new position in shares of TriCo Bancshares during the third quarter valued at $202,000. Alpine Woods Capital Investors LLC purchased a new position in shares of TriCo Bancshares during the second quarter valued at $262,000. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of TriCo Bancshares during the second quarter valued at $386,000. Hedge funds and other institutional investors own 53.92% of the company’s stock.

About TriCo Bancshares

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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Analyst Recommendations for TriCo Bancshares (NASDAQ:TCBK)

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