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

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

A number of other equities analysts also recently weighed in on TCBK. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Stephens began coverage on shares of LiqTech International in a report on Tuesday, July 9th. They set an “overweight” rating and a $13.00 target price on the stock. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $41.67.

Shares of TCBK opened at $38.39 on Friday. 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 1-year low of $31.05 and a 1-year high of $41.31. The stock’s fifty day moving average price is $38.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 0.80.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. The business had revenue of $75.73 million for the quarter, compared to the consensus estimate of $77.05 million. TriCo Bancshares had a net margin of 25.94% and a return on equity of 10.37%. On average, analysts predict that TriCo Bancshares will post 3 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Denali Advisors LLC acquired a new position in TriCo Bancshares during the second quarter worth $38,000. MUFG Securities EMEA plc bought a new position in TriCo Bancshares during the fourth quarter worth $88,000. Legal & General Group Plc boosted its position in TriCo Bancshares by 22.7% during the fourth quarter. Legal & General Group Plc now owns 5,011 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 927 shares during the period. SG Americas Securities LLC bought a new position in TriCo Bancshares during the first quarter worth $182,000. Finally, BNP Paribas Arbitrage SA boosted its position in TriCo Bancshares by 374.6% during the first quarter. BNP Paribas Arbitrage SA now owns 5,311 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 4,192 shares during the period. Institutional investors and hedge funds own 60.73% of the company’s stock.

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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