TriCo Bancshares (TCBK) Given Average Recommendation of “Hold” by Analysts

TriCo Bancshares (NASDAQ:TCBK) has earned a consensus recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $43.33.

A number of research firms have issued reports on TCBK. Zacks Investment Research downgraded TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Finally, ValuEngine upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Monday, October 29th.

Large investors have recently modified their holdings of the company. Alps Advisors Inc. bought a new position in shares of TriCo Bancshares during the second quarter valued at $501,000. Schwab Charles Investment Management Inc. increased its holdings in shares of TriCo Bancshares by 7.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 114,866 shares of the financial services provider’s stock valued at $4,302,000 after acquiring an additional 7,722 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of TriCo Bancshares by 2.8% during the first quarter. Wells Fargo & Company MN now owns 55,243 shares of the financial services provider’s stock valued at $2,055,000 after acquiring an additional 1,505 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of TriCo Bancshares by 15.5% during the second quarter. California Public Employees Retirement System now owns 45,653 shares of the financial services provider’s stock valued at $1,710,000 after acquiring an additional 6,112 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of TriCo Bancshares during the second quarter valued at $110,000. Hedge funds and other institutional investors own 53.82% of the company’s stock.

TCBK stock traded up $0.28 on Friday, reaching $36.72. The company’s stock had a trading volume of 62,993 shares, compared to its average volume of 62,003. TriCo Bancshares has a 12-month low of $33.35 and a 12-month high of $43.79. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.08 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.41.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $72.68 million during the quarter, compared to the consensus estimate of $72.54 million. TriCo Bancshares had a return on equity of 11.22% and a net margin of 18.77%. Equities research analysts anticipate that TriCo Bancshares will post 2.53 earnings per share for the current year.

About TriCo Bancshares

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to retail customers and small to medium-sized businesses. It accepts demand, savings, and money market accounts, as well as time deposits; and provides residential and commercial real estate mortgage, consumer, commercial, agricultural, and real estate construction loans.

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Analyst Recommendations for TriCo Bancshares (NASDAQ:TCBK)

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