TriCo Bancshares (TCBK) Cut to “Sell” at Zacks Investment Research

TriCo Bancshares (NASDAQ:TCBK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “TriCo Bancshares is a bank holding company for Tri Counties Bank. The Bank conducts a commercial banking business including accepting demand, savings and time deposits and making commercial, real estate, and consumer loans. “

Several other research firms have also weighed in on TCBK. BidaskClub upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 5th. ValuEngine lowered TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. TriCo Bancshares presently has an average rating of “Hold” and an average price target of $42.60.

Shares of TriCo Bancshares stock traded up $0.63 during trading on Wednesday, hitting $35.17. 5,246 shares of the stock traded hands, compared to its average volume of 90,273. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 1.66 and a beta of 0.85. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.83 and a quick ratio of 0.83. TriCo Bancshares has a twelve month low of $31.05 and a twelve month high of $40.38.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Monday, October 29th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. TriCo Bancshares had a return on equity of 9.80% and a net margin of 18.77%. The business had revenue of $72.68 million during the quarter, compared to analyst estimates of $72.54 million. As a group, equities research analysts predict that TriCo Bancshares will post 2.54 earnings per share for the current year.

In other news, EVP W Virginia Walker sold 3,443 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $35.48, for a total transaction of $122,157.64. Following the completion of the transaction, the executive vice president now directly owns 7,078 shares in the company, valued at $251,127.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 14.20% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of TriCo Bancshares during the second quarter worth approximately $110,000. First Quadrant L P CA bought a new stake in shares of TriCo Bancshares during the third quarter valued at approximately $121,000. Legal & General Group Plc increased its position in shares of TriCo Bancshares by 31.1% during the third quarter. Legal & General Group Plc now owns 4,084 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 970 shares during the period. San Francisco Sentry Investment Group CA bought a new stake in shares of TriCo Bancshares during the third quarter valued at approximately $189,000. Finally, Creative Planning bought a new stake in shares of TriCo Bancshares during the third quarter valued at approximately $202,000. Institutional investors own 59.31% of the company’s stock.

TriCo Bancshares Company Profile

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.

Further Reading: The Role of a Fiduciary and Individual Investors

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