TriCo Bancshares (NASDAQ:TCBK) Rating Lowered to Sell at BidaskClub

TriCo Bancshares (NASDAQ:TCBK) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday, BidAskClub reports.

Several other brokerages also recently commented on TCBK. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Stephens assumed coverage on LiqTech International in a research note on Tuesday, July 9th. They set an “overweight” rating and a $13.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. TriCo Bancshares currently has a consensus rating of “Hold” and a consensus price target of $41.67.

Shares of NASDAQ TCBK opened at $38.39 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $1.16 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.81 and a beta of 0.85. TriCo Bancshares has a 12 month low of $31.05 and a 12 month high of $41.31. The business’s 50-day simple moving average is $38.12.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The firm had revenue of $75.73 million during the quarter, compared to the consensus estimate of $77.05 million. TriCo Bancshares had a return on equity of 10.37% and a net margin of 25.94%. As a group, equities research analysts forecast that TriCo Bancshares will post 3 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Denali Advisors LLC purchased a new position in TriCo Bancshares in the 2nd quarter worth approximately $38,000. First Trust Advisors LP increased its stake in TriCo Bancshares by 12.5% in the 1st quarter. First Trust Advisors LP now owns 36,330 shares of the financial services provider’s stock worth $1,427,000 after purchasing an additional 4,046 shares during the period. FMR LLC increased its stake in TriCo Bancshares by 9.9% in the 1st quarter. FMR LLC now owns 2,461,686 shares of the financial services provider’s stock worth $96,720,000 after purchasing an additional 221,356 shares during the period. Kennedy Capital Management Inc. increased its stake in TriCo Bancshares by 1.2% in the 1st quarter. Kennedy Capital Management Inc. now owns 218,015 shares of the financial services provider’s stock worth $8,566,000 after purchasing an additional 2,684 shares during the period. Finally, Crawford Investment Counsel Inc. increased its stake in TriCo Bancshares by 0.9% in the 1st quarter. Crawford Investment Counsel Inc. now owns 110,972 shares of the financial services provider’s stock worth $4,360,000 after purchasing an additional 1,000 shares during the period. 60.73% of the stock is owned by hedge funds and other institutional investors.

About TriCo Bancshares

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.

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