Zacks Investment Research Lowers TriCo Bancshares (TCBK) to Hold

Zacks Investment Research downgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a buy rating to a hold rating in a research report report published on Thursday morning.

According to Zacks, “TriCo Bancshares is a bank holding company for Tri Counties Bank. The Bank conducts a commercial banking business including accepting demand, savings and time deposits and making commercial, real estate, and consumer loans. “

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A number of other equities research analysts also recently weighed in on TCBK. BidaskClub downgraded TriCo Bancshares from a sell rating to a strong sell rating in a report on Wednesday, January 10th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $44.00 price target on shares of TriCo Bancshares in a research note on Wednesday, January 31st. ValuEngine downgraded TriCo Bancshares from a buy rating to a hold rating in a research note on Thursday, January 4th. Sandler O’Neill reaffirmed a buy rating and issued a $44.00 price target on shares of TriCo Bancshares in a research note on Friday, March 23rd. Finally, FIG Partners downgraded TriCo Bancshares from an outperform rating to a market perform rating in a research note on Wednesday, December 13th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $42.25.

TCBK opened at $36.69 on Thursday. TriCo Bancshares has a fifty-two week low of $32.82 and a fifty-two week high of $43.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $842.26, a PE ratio of 17.64, a PEG ratio of 1.43 and a beta of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.08). TriCo Bancshares had a return on equity of 9.70% and a net margin of 17.52%. The firm had revenue of $57.57 million for the quarter, compared to analyst estimates of $58.45 million. sell-side analysts predict that TriCo Bancshares will post 2.57 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 16th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, March 15th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 32.69%.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in TriCo Bancshares by 1.9% in the fourth quarter. BlackRock Inc. now owns 1,485,804 shares of the financial services provider’s stock valued at $56,252,000 after purchasing an additional 28,231 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in TriCo Bancshares by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,114,530 shares of the financial services provider’s stock valued at $45,417,000 after purchasing an additional 37,461 shares in the last quarter. JPMorgan Chase & Co. raised its stake in TriCo Bancshares by 39.2% in the third quarter. JPMorgan Chase & Co. now owns 546,175 shares of the financial services provider’s stock valued at $22,004,000 after purchasing an additional 153,680 shares in the last quarter. Nationwide Fund Advisors raised its stake in TriCo Bancshares by 11.1% in the third quarter. Nationwide Fund Advisors now owns 165,568 shares of the financial services provider’s stock valued at $6,747,000 after purchasing an additional 16,522 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in TriCo Bancshares by 19.7% in the third quarter. Russell Investments Group Ltd. now owns 104,822 shares of the financial services provider’s stock valued at $4,272,000 after purchasing an additional 17,275 shares in the last quarter. 69.77% of the stock is owned by institutional investors and hedge funds.

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TriCo Bancshares Company Profile

TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.

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