TriCo Bancshares (NASDAQ:TCBK) Stock Rating Reaffirmed as “Neutral” by DA Davidson

TriCo Bancshares (NASDAQ:TCBK)‘s stock had its “neutral” rating reaffirmed by equities research analysts at DA Davidson in a research note issued on Tuesday, Benzinga reports. They presently have a $55.00 price target on the financial services provider’s stock. DA Davidson‘s price objective would indicate a potential upside of 4.38% from the stock’s previous close.

Several other research firms have also weighed in on TCBK. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a research note on Friday, October 2nd. Piper Sandler lowered TriCo Bancshares from a “neutral” rating to a “hold” rating in a research report on Monday. Raymond James Financial lowered TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Finally, Stephens raised TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.63.

TriCo Bancshares Price Performance

TCBK stock traded down $0.14 during trading hours on Tuesday, hitting $52.69. 299,493 shares of the stock traded hands, compared to its average volume of 221,650. The stock has a 50-day simple moving average of $53.13 and a 200 day simple moving average of $51.86. The company has a market cap of $1.68 billion, a P/E ratio of 12.23 and a beta of 0.66. TriCo Bancshares has a one year low of $43.08 and a one year high of $61.71. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.09 by $0.09. TriCo Bancshares had a net margin of 25.10% and a return on equity of 10.47%. The firm had revenue of $116.71 million for the quarter, compared to analysts’ expectations of $114.63 million. Equities analysts forecast that TriCo Bancshares will post 4.32 earnings per share for the current year.

Institutional Trading of TriCo Bancshares

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in shares of TriCo Bancshares during the 2nd quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in TriCo Bancshares during the second quarter worth $36,000. Parallel Advisors LLC increased its position in TriCo Bancshares by 88.5% during the first quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock worth $68,000 after buying an additional 676 shares during the last quarter. Nisa Investment Advisors LLC increased its position in TriCo Bancshares by 69.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,964 shares of the financial services provider’s stock worth $101,000 after buying an additional 802 shares during the last quarter. Finally, Fermata Advisors LLC bought a new position in TriCo Bancshares during the second quarter valued at about $209,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

About TriCo Bancshares

TriCo Bancshares (NASDAQ: TCBK) is a bank holding company headquartered in Chico, California. Through its principal subsidiary, Tri Counties Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and public entities.

Tri Counties Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and other financial services.