TriCo Bancshares (NASDAQ:TCBK) Stock Rating Lowered by DA Davidson

TriCo Bancshares (NASDAQ:TCBK) was downgraded by investment analysts at DA Davidson from a “buy” rating to a “neutral” rating in a report released on Tuesday,Finviz reports. They currently have a $53.00 price target on the financial services provider’s stock, up from their prior price target of $50.00. DA Davidson’s price target would indicate a potential upside of 8.34% from the company’s current price.

A number of other equities analysts also recently commented on TCBK. Stephens cut their price objective on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Piper Sandler dropped their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $48.00 target price (up previously from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Finally, Janney Montgomery Scott reissued a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, TriCo Bancshares presently has an average rating of “Hold” and an average target price of $48.20.

TriCo Bancshares Trading Up 3.3 %

Shares of TCBK stock opened at $48.92 on Tuesday. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $50.63. The firm’s 50-day simple moving average is $43.46 and its 200-day simple moving average is $41.33. The firm has a market cap of $1.61 billion, a P/E ratio of 14.56 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. The company had revenue of $133.84 million during the quarter, compared to analysts’ expectations of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.60%. As a group, equities analysts forecast that TriCo Bancshares will post 3.38 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total transaction of $63,280.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $135,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $135,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $43.11, for a total transaction of $149,376.15. Following the completion of the transaction, the director now directly owns 11,228 shares of the company’s stock, valued at $484,039.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in TriCo Bancshares by 8.2% in the first quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock valued at $139,000 after buying an additional 287 shares during the last quarter. ProShare Advisors LLC grew its position in TriCo Bancshares by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 439 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in TriCo Bancshares in the 3rd quarter worth about $210,000. Quantbot Technologies LP bought a new stake in shares of TriCo Bancshares during the first quarter valued at approximately $227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of TriCo Bancshares by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after buying an additional 758 shares during the last quarter. Institutional investors and hedge funds own 59.11% 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. 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.