Zacks Investment Research upgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “TriCo Bancshares is a bank holding company for Tri Counties Bank. The Bank conducts a commercial banking business including accepting demand, savings and time deposits and making commercial, real estate, and consumer loans. “
Several other research analysts also recently issued reports on the company. BidaskClub raised TriCo Bancshares from a sell rating to a hold rating in a research note on Saturday, September 8th. ValuEngine raised TriCo Bancshares from a sell rating to a hold rating in a research note on Monday, October 29th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $43.60.
Shares of TCBK stock traded down $0.35 on Wednesday, reaching $36.59. The company had a trading volume of 31,747 shares, compared to its average volume of 60,778. The stock has a market capitalization of $1.12 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 2.04 and a beta of 0.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.41. TriCo Bancshares has a one year low of $33.35 and a one year high of $43.79.
TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Monday, October 29th. The financial services provider reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. The firm had revenue of $72.68 million during the quarter, compared to analysts’ expectations of $72.54 million. TriCo Bancshares had a net margin of 18.77% and a return on equity of 11.22%. As a group, equities analysts predict that TriCo Bancshares will post 2.57 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Crawford Investment Counsel Inc. increased its stake in shares of TriCo Bancshares by 4.4% in the third quarter. Crawford Investment Counsel Inc. now owns 110,667 shares of the financial services provider’s stock valued at $4,274,000 after buying an additional 4,670 shares during the period. FMR LLC increased its stake in shares of TriCo Bancshares by 7.0% in the third quarter. FMR LLC now owns 2,066,828 shares of the financial services provider’s stock valued at $79,821,000 after buying an additional 134,374 shares during the period. American International Group Inc. increased its stake in shares of TriCo Bancshares by 27.0% in the third quarter. American International Group Inc. now owns 16,933 shares of the financial services provider’s stock valued at $654,000 after buying an additional 3,597 shares during the period. BlackRock Inc. increased its stake in shares of TriCo Bancshares by 15.1% in the third quarter. BlackRock Inc. now owns 1,823,597 shares of the financial services provider’s stock valued at $70,429,000 after buying an additional 239,853 shares during the period. Finally, San Francisco Sentry Investment Group CA acquired a new position in shares of TriCo Bancshares in the third quarter valued at approximately $189,000. 53.92% of the stock is 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 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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