Stephens Reiterates “Buy” Rating for TriCo Bancshares (TCBK)

TriCo Bancshares (NASDAQ:TCBK)‘s stock had its “buy” rating reaffirmed by research analysts at Stephens in a research note issued on Thursday, March 21st, reports. They presently have a $45.00 price objective on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 14.68% from the stock’s previous close.

Several other equities analysts have also weighed in on TCBK. Zacks Investment Research raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, January 22nd. BidaskClub raised TriCo Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, November 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $44.00.

TriCo Bancshares stock traded down $0.51 during midday trading on Thursday, reaching $39.24. 41,590 shares of the company were exchanged, compared to its average volume of 81,661. The stock has a market cap of $1.21 billion, a PE ratio of 14.59, a P/E/G ratio of 1.89 and a beta of 0.87. TriCo Bancshares has a 1 year low of $31.05 and a 1 year high of $40.59. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.09.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $76.64 million during the quarter, compared to analysts’ expectations of $73.92 million. TriCo Bancshares had a return on equity of 10.47% and a net margin of 24.62%. On average, equities analysts predict that TriCo Bancshares will post 2.98 EPS for the current year.

In related news, Director W Virginia Walker sold 3,632 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $37.62, for a total transaction of $136,635.84. Following the transaction, the director now directly owns 10,078 shares of the company’s stock, valued at approximately $379,134.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC bought a new stake in shares of TriCo Bancshares in the 4th quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV grew its stake in TriCo Bancshares by 683.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,654 shares of the financial services provider’s stock worth $56,000 after buying an additional 1,443 shares during the last quarter. MUFG Securities EMEA plc bought a new position in TriCo Bancshares during the 4th quarter worth $88,000. Acadian Asset Management LLC bought a new position in TriCo Bancshares during the 4th quarter worth $114,000. Finally, NEXT Financial Group Inc bought a new position in TriCo Bancshares during the 4th quarter worth $123,000. 60.72% of the stock is currently 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 individual and corporate customers. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.

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