TriCo Bancshares (NASDAQ:TCBK) Earns Neutral Rating from DA Davidson

TriCo Bancshares (NASDAQ:TCBK)‘s stock had its “neutral” rating reaffirmed by analysts at DA Davidson in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $55.00 target price on the financial services provider’s stock. DA Davidson‘s target price indicates a potential upside of 4.38% from the company’s current price.

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

TriCo Bancshares Trading Down 0.3%

Shares of TriCo Bancshares stock traded down $0.14 during mid-day trading on Tuesday, hitting $52.69. 299,493 shares of the stock were exchanged, compared to its average volume of 221,650. TriCo Bancshares has a twelve month low of $43.08 and a twelve month high of $61.71. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 12.23 and a beta of 0.66. The company has a 50-day simple moving average of $53.13 and a 200 day simple moving average of $51.86. 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 released its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.18 earnings per share (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 company had revenue of $116.71 million for the quarter, compared to analysts’ expectations of $114.63 million. Research analysts forecast that TriCo Bancshares will post 4.32 EPS for the current year.

Hedge Funds Weigh In On TriCo Bancshares

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE acquired a new position in shares of TriCo Bancshares in the 2nd quarter valued at $4,456,000. Basswood Capital Management L.L.C. acquired a new position in shares of TriCo Bancshares in the 2nd quarter valued at $7,430,000. Hsbc Holdings PLC acquired a new position in shares of TriCo Bancshares in the 4th quarter valued at $815,000. Legal & General Group Plc acquired a new stake in TriCo Bancshares during the 2nd quarter worth approximately $1,338,000. Finally, Heartland Advisors Inc. acquired a new stake in TriCo Bancshares during the 2nd quarter worth approximately $13,462,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

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.