TriCo Bancshares (NASDAQ:TCBK) Stock Rating Reaffirmed as “Neutral” by DA Davidson

TriCo Bancshares (NASDAQ:TCBK)‘s stock had its “neutral” rating reissued by equities researchers at DA Davidson in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $55.00 target price on the financial services provider’s stock. DA Davidson‘s target price would suggest a potential upside of 4.38% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Stephens upgraded shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of TriCo Bancshares in a research report on Friday, October 2nd. Piper Sandler lowered shares of TriCo Bancshares from a “neutral” rating to a “hold” rating in a research report on Monday. Finally, Raymond James Financial lowered shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, TriCo Bancshares presently has an average rating of “Hold” and an average target price of $55.63.

TriCo Bancshares Price Performance

TriCo Bancshares stock traded down $0.14 during mid-day trading on Tuesday, hitting $52.69. 299,493 shares of the company traded hands, compared to its average volume of 221,650. TriCo Bancshares has a one year low of $43.08 and a one year high of $61.71. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 12.23 and a beta of 0.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a fifty day moving average price of $53.13 and a 200-day moving average price of $51.86.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating 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 business had revenue of $116.71 million during the quarter, compared to analyst estimates of $114.63 million. On average, equities analysts predict that TriCo Bancshares will post 4.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its stake in shares of TriCo Bancshares by 69.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,964 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 802 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of TriCo Bancshares by 85.3% during the second quarter. Squarepoint Ops LLC now owns 20,777 shares of the financial services provider’s stock worth $1,119,000 after acquiring an additional 9,562 shares in the last quarter. Allworth Financial LP raised its stake in shares of TriCo Bancshares by 1.7% during the second quarter. Allworth Financial LP now owns 129,979 shares of the financial services provider’s stock worth $6,999,000 after acquiring an additional 2,134 shares in the last quarter. Round Rock Advisors LLC purchased a new position in shares of TriCo Bancshares during the second quarter worth approximately $360,000. Finally, Kingsview Wealth Management LLC purchased a new position in shares of TriCo Bancshares during the second quarter worth approximately $260,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Company Profile

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.