TriCo Bancshares (NASDAQ:TCBK) Rating Lowered to Sell at StockNews.com

StockNews.com cut shares of TriCo Bancshares (NASDAQ:TCBK) from a hold rating to a sell rating in a research report released on Monday.

A number of other research analysts also recently weighed in on TCBK. Keefe, Bruyette & Woods decreased their price target on TriCo Bancshares from $44.00 to $42.00 and set a market perform rating for the company in a research note on Friday, January 26th. Raymond James raised their price target on TriCo Bancshares from $36.00 to $40.00 and gave the company an outperform rating in a research note on Friday, January 26th. Finally, DA Davidson decreased their price target on TriCo Bancshares from $49.00 to $45.00 and set a buy rating for the company in a research note on Friday, January 26th. One 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. According to data from MarketBeat, TriCo Bancshares has an average rating of Hold and a consensus price target of $42.00.

TriCo Bancshares Stock Down 0.2 %

NASDAQ:TCBK opened at $34.80 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $1.15 billion, a PE ratio of 9.89 and a beta of 0.53. TriCo Bancshares has a 52-week low of $28.66 and a 52-week high of $45.84. The stock has a 50-day simple moving average of $34.34 and a 200 day simple moving average of $36.12.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.07). The company had revenue of $131.95 million during the quarter, compared to the consensus estimate of $101.30 million. TriCo Bancshares had a net margin of 23.49% and a return on equity of 10.64%. On average, sell-side analysts expect that TriCo Bancshares will post 3.25 EPS for the current fiscal year.

TriCo Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.79%. This is a boost from TriCo Bancshares’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, March 7th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 37.50%.

Institutional Trading of TriCo Bancshares

Hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC lifted its position in shares of TriCo Bancshares by 124.6% in the fourth quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock valued at $34,000 after buying an additional 440 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in TriCo Bancshares by 470.9% during the 4th quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 777 shares during the last quarter. Quantbot Technologies LP lifted its holdings in TriCo Bancshares by 49.6% during the 3rd quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 1,631 shares during the last quarter. Bailard Inc. acquired a new stake in TriCo Bancshares during the 4th quarter worth approximately $249,000. Finally, Abbrea Capital LLC acquired a new stake in TriCo Bancshares during the 4th quarter worth approximately $258,000. 59.11% of the stock is owned by institutional investors and hedge funds.

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. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.