Piper Jaffray Companies assumed coverage on shares of TriCo Bancshares (NASDAQ:TCBK) in a research note issued on Friday, MarketBeat.com reports. The firm set a “neutral” rating and a $41.00 price target on the financial services provider’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 6.80% from the company’s current price.
A number of other brokerages have also issued reports on TCBK. Stephens initiated coverage on LiqTech International in a report on Tuesday, July 9th. They issued an “overweight” rating and a $13.00 price objective for the company. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Finally, BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.67.
Shares of TriCo Bancshares stock opened at $38.39 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.80 and a quick ratio of 0.80. The business’s 50 day moving average is $38.12. The firm has a market cap of $1.16 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.81 and a beta of 0.85. TriCo Bancshares has a twelve month low of $31.05 and a twelve month high of $41.31.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $75.73 million for the quarter, compared to analysts’ expectations of $77.05 million. TriCo Bancshares had a return on equity of 10.37% and a net margin of 25.94%. As a group, research analysts forecast that TriCo Bancshares will post 3 EPS for the current year.
A number of hedge funds have recently modified their holdings of TCBK. FMR LLC grew its holdings 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 buying an additional 221,356 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in TriCo Bancshares by 7.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,372,512 shares of the financial services provider’s stock worth $46,377,000 after buying an additional 92,775 shares in the last quarter. BlackRock Inc. grew its holdings in TriCo Bancshares by 3.5% in the 4th quarter. BlackRock Inc. now owns 1,887,967 shares of the financial services provider’s stock worth $63,794,000 after buying an additional 64,370 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in TriCo Bancshares by 147.5% in the 1st quarter. Hennessy Advisors Inc. now owns 99,000 shares of the financial services provider’s stock worth $3,890,000 after buying an additional 59,000 shares in the last quarter. Finally, Millennium Management LLC bought a new position in TriCo Bancshares in the 4th quarter worth approximately $1,522,000. 60.73% of the stock is owned by institutional investors and hedge funds.
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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