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.
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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.
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