ValuEngine Downgrades TriCo Bancshares (NASDAQ:TCBK) to Sell

TriCo Bancshares (NASDAQ:TCBK) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday, ValuEngine reports.

TCBK has been the subject of several other research reports. Piper Jaffray Companies upped their price objective on TriCo Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, December 17th. BidaskClub lowered TriCo Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Finally, Zacks Investment Research lowered TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $42.25.

Shares of TriCo Bancshares stock traded up $0.14 during trading on Tuesday, hitting $39.09. The stock had a trading volume of 1,574 shares, compared to its average volume of 58,528. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $1.21 billion, a P/E ratio of 14.55 and a beta of 0.88. The business has a fifty day moving average of $39.91 and a two-hundred day moving average of $37.65. TriCo Bancshares has a fifty-two week low of $34.49 and a fifty-two week high of $41.42.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The business had revenue of $78.80 million during the quarter, compared to analyst estimates of $77.91 million. TriCo Bancshares had a return on equity of 10.70% and a net margin of 28.45%. As a group, research analysts forecast that TriCo Bancshares will post 2.99 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in shares of TriCo Bancshares by 134.1% during the third quarter. Millennium Management LLC now owns 212,537 shares of the financial services provider’s stock valued at $7,715,000 after purchasing an additional 121,737 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of TriCo Bancshares by 1.2% during the third quarter. California State Teachers Retirement System now owns 41,705 shares of the financial services provider’s stock valued at $1,514,000 after purchasing an additional 498 shares during the last quarter. State Street Corp lifted its holdings in shares of TriCo Bancshares by 1.3% during the third quarter. State Street Corp now owns 561,440 shares of the financial services provider’s stock valued at $20,380,000 after purchasing an additional 7,391 shares during the last quarter. Systematic Financial Management LP purchased a new stake in shares of TriCo Bancshares during the third quarter valued at $500,000. Finally, First Trust Advisors LP lifted its holdings in shares of TriCo Bancshares by 16.9% during the third quarter. First Trust Advisors LP now owns 40,025 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 5,776 shares during the last quarter. 62.36% of the stock is owned by institutional investors and hedge funds.

About TriCo Bancshares

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.

Featured Article: What is the Euro STOXX 50 Index?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for TriCo Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriCo Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit