TriCo Bancshares (NASDAQ:TCBK) Downgraded to “Sell” at BidaskClub

BidaskClub lowered shares of TriCo Bancshares (NASDAQ:TCBK) from a hold rating to a sell rating in a research note published on Tuesday, BidAskClub reports.

A number of other analysts have also weighed in on TCBK. ValuEngine downgraded TriCo Bancshares from a hold rating to a sell rating in a research report on Tuesday. Piper Jaffray Companies upped their price target on TriCo Bancshares from $41.00 to $44.00 and gave the stock a neutral rating in a research report on Tuesday, December 17th. Finally, Zacks Investment Research downgraded TriCo Bancshares from a hold rating to a sell rating in a research report on Friday, January 10th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $42.25.

Shares of TCBK traded down $0.58 during mid-day trading on Tuesday, reaching $38.98. 1,878 shares of the company’s stock traded hands, compared to its average volume of 58,857. The stock has a market cap of $1.21 billion, a P/E ratio of 14.62 and a beta of 0.88. The stock’s 50-day moving average is $39.90 and its two-hundred day moving average is $37.65. TriCo Bancshares has a 12 month low of $34.25 and a 12 month high of $41.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Monday, October 28th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $78.80 million for the quarter, compared to analysts’ expectations of $77.91 million. TriCo Bancshares had a return on equity of 10.70% and a net margin of 28.45%. Research analysts predict that TriCo Bancshares will post 2.99 earnings per share for the current year.

The business also recently declared a dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, December 12th. TriCo Bancshares’s dividend payout ratio is currently 32.71%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System lifted its position in TriCo Bancshares by 1.2% in the third quarter. California State Teachers Retirement System now owns 41,705 shares of the financial services provider’s stock valued at $1,514,000 after acquiring an additional 498 shares during the last quarter. Wells Fargo & Company MN lifted its position in TriCo Bancshares by 1.0% in the second quarter. Wells Fargo & Company MN now owns 66,054 shares of the financial services provider’s stock valued at $2,497,000 after acquiring an additional 632 shares during the last quarter. Rhumbline Advisers lifted its position in TriCo Bancshares by 8.6% in the third quarter. Rhumbline Advisers now owns 43,028 shares of the financial services provider’s stock valued at $1,562,000 after acquiring an additional 3,416 shares during the last quarter. First Trust Advisors LP lifted its position in TriCo Bancshares by 12.5% in the first quarter. First Trust Advisors LP now owns 36,330 shares of the financial services provider’s stock valued at $1,427,000 after acquiring an additional 4,046 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in TriCo Bancshares by 65.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 11,244 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 4,460 shares during the last quarter. 62.36% 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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