BidaskClub Upgrades TriCo Bancshares (NASDAQ:TCBK) to Sell

BidaskClub upgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a strong sell rating to a sell rating in a research note released on Wednesday.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of TriCo Bancshares from a hold rating to a buy rating and set a $39.00 target price on the stock in a research note on Tuesday, June 27th. ValuEngine upgraded shares of TriCo Bancshares from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, FBR & Co restated a hold rating and set a $37.00 target price on shares of TriCo Bancshares in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. TriCo Bancshares currently has a consensus rating of Hold and a consensus target price of $39.00.

TriCo Bancshares (TCBK) traded down 1.14% during mid-day trading on Wednesday, hitting $36.34. 64,047 shares of the company traded hands. The firm has a market capitalization of $833.09 million, a P/E ratio of 16.75 and a beta of 0.89. TriCo Bancshares has a one year low of $25.43 and a one year high of $38.58. The firm has a 50 day moving average of $35.88 and a 200 day moving average of $35.67.

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Large investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its stake in TriCo Bancshares by 51.7% in the first quarter. Acrospire Investment Management LLC now owns 2,962 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,010 shares during the last quarter. SG Americas Securities LLC purchased a new stake in TriCo Bancshares during the second quarter worth approximately $129,000. ClariVest Asset Management LLC purchased a new stake in TriCo Bancshares during the first quarter worth approximately $228,000. Trexquant Investment LP purchased a new stake in TriCo Bancshares during the second quarter worth approximately $243,000. Finally, Karp Capital Management Corp purchased a new stake in TriCo Bancshares during the first quarter worth approximately $245,000. Institutional investors own 69.13% of the company’s stock.

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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