BidaskClub Downgrades TriCo Bancshares (NASDAQ:TCBK) to Hold

BidaskClub cut shares of TriCo Bancshares (NASDAQ:TCBK) from a buy rating to a hold rating in a research note published on Friday, March 22nd, BidAskClub reports.

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. Stephens reaffirmed a buy rating and issued a $45.00 price objective on shares of TriCo Bancshares in a research note on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock 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 Friday, 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.

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, March 14th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 28.25%.

In other TriCo Bancshares news, Director W Virginia Walker sold 3,632 shares of the company’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 value 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 14.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. 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 increased its holdings in shares of TriCo Bancshares by 683.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,654 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 1,443 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of TriCo Bancshares in the 4th quarter valued at approximately $88,000. Acadian Asset Management LLC bought a new stake in shares of TriCo Bancshares in the 4th quarter valued at approximately $114,000. Finally, NEXT Financial Group Inc bought a new stake in shares of TriCo Bancshares in the 4th quarter valued at approximately $123,000. 60.72% of the stock is currently owned by 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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