TriCo Bancshares (TCBK) Downgraded to Sell at BidaskClub

BidaskClub downgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a hold rating to a sell rating in a research report report published on Friday morning.

Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded TriCo Bancshares from a hold rating to a buy rating and set a $46.00 target price on the stock in a report on Thursday, November 2nd. Keefe, Bruyette & Woods restated a hold rating and set a $43.00 target price on shares of TriCo Bancshares in a report on Thursday. Finally, FIG Partners lowered TriCo Bancshares from an outperform rating to a market perform rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $42.00.

TriCo Bancshares (NASDAQ TCBK) traded up $0.94 during midday trading on Friday, reaching $39.73. The company’s stock had a trading volume of 331,044 shares, compared to its average volume of 85,102. TriCo Bancshares has a one year low of $32.66 and a one year high of $43.79. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $933.55, a price-to-earnings ratio of 18.04, a P/E/G ratio of 1.78 and a beta of 0.90.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Tuesday, October 31st. The financial services provider reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). TriCo Bancshares had a net margin of 21.87% and a return on equity of 10.17%. The company had revenue of $57.01 million for the quarter, compared to the consensus estimate of $56.99 million. analysts forecast that TriCo Bancshares will post 2.18 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.17 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.71%. TriCo Bancshares’s payout ratio is presently 31.48%.

Several institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP increased its stake in shares of TriCo Bancshares by 46.4% in the third quarter. GSA Capital Partners LLP now owns 14,669 shares of the financial services provider’s stock worth $598,000 after purchasing an additional 4,651 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of TriCo Bancshares by 10.5% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,832 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 1,501 shares during the period. OxFORD Asset Management LLP increased its stake in shares of TriCo Bancshares by 51.1% in the third quarter. OxFORD Asset Management LLP now owns 40,631 shares of the financial services provider’s stock worth $1,654,000 after purchasing an additional 13,745 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of TriCo Bancshares by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,114,530 shares of the financial services provider’s stock worth $45,417,000 after purchasing an additional 37,461 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of TriCo Bancshares by 13.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 96,682 shares of the financial services provider’s stock worth $3,940,000 after purchasing an additional 11,321 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.dispatchtribunal.com/2017/12/16/trico-bancshares-tcbk-downgraded-to-sell-at-bidaskclub.html.

About TriCo Bancshares

TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.

Receive News & Ratings for TriCo Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriCo Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply