TriCo Bancshares (TCBK) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a strong sell rating to a sell rating in a research report sent to investors on Monday.

TCBK has been the subject of several other reports. Zacks Investment Research cut TriCo Bancshares from a buy rating to a hold rating in a research report on Friday, November 3rd. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $43.00 target price on shares of TriCo Bancshares in a research report on Thursday, December 14th. ValuEngine cut TriCo Bancshares from a buy rating to a hold rating in a report on Thursday, January 4th. Finally, FIG Partners cut TriCo Bancshares from an outperform rating to a market perform rating in a report on Wednesday, December 13th. One 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. The company currently has a consensus rating of Hold and an average price target of $41.00.

TriCo Bancshares (NASDAQ:TCBK) opened at $36.63 on Monday. The company has a market capitalization of $855.34, a price-to-earnings ratio of 17.91, a P/E/G ratio of 1.41 and a beta of 0.89. TriCo Bancshares has a 12-month low of $32.76 and a 12-month high of $43.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.79 and a quick ratio of 0.79.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.08). The firm had revenue of $57.57 million during the quarter, compared to the consensus estimate of $58.45 million. TriCo Bancshares had a return on equity of 9.74% and a net margin of 17.52%. analysts predict that TriCo Bancshares will post 2.64 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in shares of TriCo Bancshares by 0.4% during the second quarter. Wells Fargo & Company MN now owns 39,785 shares of the financial services provider’s stock valued at $1,398,000 after acquiring an additional 141 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of TriCo Bancshares by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 55,529 shares of the financial services provider’s stock valued at $1,952,000 after acquiring an additional 291 shares during the period. Voya Investment Management LLC lifted its holdings in shares of TriCo Bancshares by 12.0% during the second quarter. Voya Investment Management LLC now owns 11,633 shares of the financial services provider’s stock valued at $409,000 after acquiring an additional 1,243 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of TriCo Bancshares by 10.5% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,832 shares of the financial services provider’s stock valued at $645,000 after acquiring an additional 1,501 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of TriCo Bancshares by 2.8% during the third quarter. Mutual of America Capital Management LLC now owns 86,943 shares of the financial services provider’s stock valued at $3,543,000 after acquiring an additional 2,382 shares during the period. 69.86% of the stock is owned by institutional investors.

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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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