TriCo Bancshares (TCBK) Downgraded to Hold at ValuEngine

TriCo Bancshares (NASDAQ:TCBK) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other analysts have also weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $45.00 price objective on shares of TriCo Bancshares in a report on Friday, December 22nd. BidaskClub lowered shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 15th. FIG Partners lowered shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 13th. Finally, Zacks Investment Research lowered shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $42.67.

TriCo Bancshares (NASDAQ:TCBK) traded up $0.29 during midday trading on Thursday, hitting $38.80. 97,830 shares of the stock traded hands, compared to its average volume of 98,267. The firm has a market capitalization of $874.30, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. TriCo Bancshares has a 12 month low of $32.66 and a 12 month high of $43.79.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data 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). The firm had revenue of $57.01 million for the quarter, compared to analyst estimates of $56.99 million. TriCo Bancshares had a return on equity of 10.17% and a net margin of 21.87%. research analysts expect that TriCo Bancshares will post 2.18 earnings per share for the current year.

Several institutional investors have recently modified their holdings of TCBK. SG Americas Securities LLC acquired a new stake in shares of TriCo Bancshares in the second quarter valued at approximately $129,000. Raymond James Financial Services Advisors Inc. acquired a new stake in TriCo Bancshares during the 2nd quarter worth $211,000. Susquehanna International Group LLP acquired a new stake in TriCo Bancshares during the 2nd quarter worth $245,000. Virtu KCG Holdings LLC acquired a new stake in TriCo Bancshares during the 2nd quarter worth $248,000. Finally, Citadel Advisors LLC acquired a new stake in TriCo Bancshares during the 2nd quarter worth $265,000. 68.96% of the stock is owned by institutional investors and hedge funds.

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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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