TriCo Bancshares (TCBK) Lowered to “Sell” at ValuEngine

ValuEngine downgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a hold rating to a sell rating in a research note issued to investors on Friday.

A number of other equities analysts also recently issued reports on TCBK. BidaskClub upgraded TriCo Bancshares from a sell rating to a hold rating in a research note on Friday, October 5th. Zacks Investment Research upgraded TriCo Bancshares from a sell rating to a hold rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $43.60.

TCBK stock traded down $0.99 during mid-day trading on Friday, reaching $35.13. 104,304 shares of the company traded hands, compared to its average volume of 81,044. The company has a market capitalization of $1.17 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 1.51 and a beta of 0.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.81 and a current ratio of 0.81. TriCo Bancshares has a fifty-two week low of $34.50 and a fifty-two week high of $43.79.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. The business had revenue of $58.04 million during the quarter, compared to the consensus estimate of $60.99 million. TriCo Bancshares had a return on equity of 10.38% and a net margin of 18.39%. As a group, sell-side analysts forecast that TriCo Bancshares will post 2.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.94%. TriCo Bancshares’s payout ratio is presently 32.69%.

Several hedge funds and other institutional investors have recently made changes to their positions in TCBK. SG Americas Securities LLC purchased a new position in TriCo Bancshares in the second quarter valued at approximately $110,000. Alpine Woods Capital Investors LLC purchased a new position in TriCo Bancshares in the second quarter valued at approximately $262,000. Virginia Retirement Systems ET AL purchased a new stake in shares of TriCo Bancshares during the second quarter worth about $386,000. Paloma Partners Management Co purchased a new stake in shares of TriCo Bancshares during the second quarter worth about $406,000. Finally, Alps Advisors Inc. purchased a new stake in shares of TriCo Bancshares during the second quarter worth about $501,000. Hedge funds and other institutional investors own 53.74% 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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