TriCo Bancshares’ (TCBK) Neutral Rating Reiterated at DA Davidson

TriCo Bancshares (NASDAQ:TCBK)‘s stock had its “neutral” rating reaffirmed by investment analysts at DA Davidson in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $55.00 price target on the financial services provider’s stock. DA Davidson‘s target price indicates a potential upside of 4.38% from the company’s previous close.

TCBK has been the subject of several other reports. Raymond James Financial cut shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 14th. Piper Sandler lowered shares of TriCo Bancshares from a “neutral” rating to a “hold” rating in a research note on Monday. Stephens raised shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, TriCo Bancshares has a consensus rating of “Hold” and a consensus target price of $55.62.

TriCo Bancshares Stock Performance

NASDAQ TCBK traded down $0.14 during trading hours on Tuesday, reaching $52.69. The stock had a trading volume of 299,493 shares, compared to its average volume of 221,650. The stock has a fifty day moving average of $53.13 and a 200 day moving average of $51.86. The stock has a market cap of $1.68 billion, a P/E ratio of 12.23 and a beta of 0.66. TriCo Bancshares has a 52-week low of $43.08 and a 52-week high of $61.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.09. TriCo Bancshares had a net margin of 25.10% and a return on equity of 10.47%. The company had revenue of $116.71 million for the quarter, compared to the consensus estimate of $114.63 million. Sell-side analysts predict that TriCo Bancshares will post 4.32 earnings per share for the current year.

Institutional Trading of TriCo Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in TriCo Bancshares during the second quarter valued at approximately $137,197,000. Dimensional Fund Advisors LP lifted its holdings in TriCo Bancshares by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,696,463 shares of the financial services provider’s stock valued at $80,650,000 after acquiring an additional 11,298 shares during the period. Davis Asset Management L.P. acquired a new position in TriCo Bancshares in the second quarter valued at approximately $56,376,000. The Manufacturers Life Insurance Company acquired a new position in TriCo Bancshares in the second quarter valued at approximately $22,526,000. Finally, Heartland Advisors Inc. purchased a new stake in TriCo Bancshares in the 2nd quarter worth approximately $13,462,000. 59.11% of the stock is owned by institutional investors and hedge funds.

About TriCo Bancshares

TriCo Bancshares (NASDAQ: TCBK) is a bank holding company headquartered in Chico, California. Through its principal subsidiary, Tri Counties Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and public entities.

Tri Counties Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and other financial services.