TriCo Bancshares (NASDAQ:TCBK) Lowered to Sell at BidaskClub

BidaskClub cut shares of TriCo Bancshares (NASDAQ:TCBK) from a hold rating to a sell rating in a report published on Friday morning, BidAskClub reports.

Several other brokerages also recently commented on TCBK. Stephens initiated coverage on LiqTech International in a research note on Tuesday, July 9th. They set an overweight rating and a $13.00 target price for the company. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, June 8th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has an average rating of Hold and a consensus target price of $41.67.

NASDAQ:TCBK opened at $37.54 on Friday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.83 and a beta of 0.85. TriCo Bancshares has a twelve month low of $31.05 and a twelve month high of $41.31. The business’s 50 day moving average is $38.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.80 and a quick ratio of 0.80.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. TriCo Bancshares had a return on equity of 10.37% and a net margin of 25.94%. The company had revenue of $75.73 million during the quarter, compared to the consensus estimate of $77.05 million. As a group, equities research analysts forecast that TriCo Bancshares will post 3 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.76 annualized dividend and a dividend yield of 2.02%. TriCo Bancshares’s dividend payout ratio is currently 28.25%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its stake in shares of TriCo Bancshares by 9.9% during the 1st quarter. FMR LLC now owns 2,461,686 shares of the financial services provider’s stock worth $96,720,000 after acquiring an additional 221,356 shares during the period. BlackRock Inc. boosted its stake in shares of TriCo Bancshares by 3.5% during the 4th quarter. BlackRock Inc. now owns 1,887,967 shares of the financial services provider’s stock worth $63,794,000 after acquiring an additional 64,370 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of TriCo Bancshares by 7.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,372,512 shares of the financial services provider’s stock worth $46,377,000 after acquiring an additional 92,775 shares during the period. Northern Trust Corp boosted its stake in TriCo Bancshares by 1.3% in the 4th quarter. Northern Trust Corp now owns 627,085 shares of the financial services provider’s stock valued at $21,189,000 after purchasing an additional 7,887 shares during the period. Finally, Geode Capital Management LLC boosted its stake in TriCo Bancshares by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 313,247 shares of the financial services provider’s stock valued at $10,584,000 after purchasing an additional 23,413 shares during the period. Institutional investors own 60.71% 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 individual and corporate customers. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.

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