TriCo Bancshares (NASDAQ:TCBK) Receives Consensus Rating of “Hold” from Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK – Get Free Report) have received an average rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $56.60.

TCBK has been the topic of a number of analyst reports. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. DA Davidson lowered their target price on shares of TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a report on Wednesday, July 8th. Raymond James Financial lowered TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Finally, Stephens raised TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th.

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Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in TCBK. Farther Finance Advisors LLC boosted its holdings in TriCo Bancshares by 40.3% in the fourth quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 211 shares in the last quarter. Federated Hermes Inc. increased its stake in TriCo Bancshares by 17.7% in the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 290 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in TriCo Bancshares by 1.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 30,254 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 329 shares in the last quarter. Sweeney & Michel LLC raised its holdings in TriCo Bancshares by 0.3% during the first quarter. Sweeney & Michel LLC now owns 126,082 shares of the financial services provider’s stock worth $6,318,000 after purchasing an additional 347 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of TriCo Bancshares by 337.5% during the 3rd quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after buying an additional 459 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Down 1.1%

Shares of NASDAQ:TCBK opened at $55.07 on Friday. The firm’s 50 day moving average price is $56.07 and its 200 day moving average price is $51.86. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 13.21 and a beta of 0.60. TriCo Bancshares has a fifty-two week low of $40.44 and a fifty-two week high of $61.71. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. TriCo Bancshares had a net margin of 24.67% and a return on equity of 10.23%. The company had revenue of $111.88 million during the quarter, compared to the consensus estimate of $110.99 million. As a group, equities research analysts predict that TriCo Bancshares will post 4.28 earnings per share for the current fiscal year.

TriCo Bancshares Company Profile

(Get Free Report)

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.

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