TriCo Bancshares (NASDAQ:TCBK) Stock Rating Upgraded by StockNews.com

TriCo Bancshares (NASDAQ:TCBK) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

TCBK has been the subject of several other research reports. DA Davidson lowered their target price on shares of TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating for the company in a report on Friday, January 26th. Keefe, Bruyette & Woods reduced their target price on TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Finally, Raymond James boosted their price target on shares of TriCo Bancshares from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

TriCo Bancshares Stock Up 2.6 %

TriCo Bancshares stock opened at $35.69 on Tuesday. TriCo Bancshares has a 52-week low of $28.66 and a 52-week high of $45.84. The firm has a 50 day moving average price of $34.30 and a two-hundred day moving average price of $36.21. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 10.88 and a beta of 0.53. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. TriCo Bancshares had a return on equity of 9.87% and a net margin of 21.25%. The business had revenue of $131.19 million during the quarter, compared to the consensus estimate of $99.50 million. Equities analysts predict that TriCo Bancshares will post 3.26 EPS for the current year.

Institutional Trading of TriCo Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of TCBK. Lindbrook Capital LLC increased its holdings in TriCo Bancshares by 124.6% during the 4th quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 440 shares during the period. Quadrant Capital Group LLC raised its stake in TriCo Bancshares by 470.9% during the 4th quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock valued at $40,000 after buying an additional 777 shares during the last quarter. Quantbot Technologies LP lifted its holdings in TriCo Bancshares by 49.6% in the third quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 1,631 shares during the period. Aigen Investment Management LP bought a new position in shares of TriCo Bancshares in the 3rd quarter worth approximately $213,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in TriCo Bancshares by 39.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,215 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 2,024 shares during the period. Institutional investors own 59.11% 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 individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.