TriCo Bancshares (NASDAQ:TCBK) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a hold rating to a sell rating in a report released on Monday morning.

Several other equities analysts have also commented on TCBK. Keefe, Bruyette & Woods dropped their target price on TriCo Bancshares from $44.00 to $42.00 and set a market perform rating on the stock in a report on Friday, January 26th. DA Davidson dropped their target price on TriCo Bancshares from $49.00 to $45.00 and set a buy rating on the stock in a report on Friday, January 26th. Finally, Raymond James raised their price objective on TriCo Bancshares from $36.00 to $40.00 and gave the stock an outperform rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, TriCo Bancshares has an average rating of Hold and a consensus target price of $42.00.

TriCo Bancshares Stock Performance

NASDAQ:TCBK opened at $34.80 on Monday. The firm has a market capitalization of $1.15 billion, a PE ratio of 9.89 and a beta of 0.53. The business’s fifty day moving average price is $34.34 and its 200 day moving average price is $36.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. TriCo Bancshares has a 12 month low of $28.66 and a 12 month high of $45.84.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.07). The business had revenue of $131.95 million during the quarter, compared to analysts’ expectations of $101.30 million. TriCo Bancshares had a net margin of 23.49% and a return on equity of 10.64%. On average, sell-side analysts anticipate that TriCo Bancshares will post 3.25 earnings per share for the current fiscal year.

TriCo Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $0.33 per share. This is a positive change from TriCo Bancshares’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, March 7th. This represents a $1.32 annualized dividend and a dividend yield of 3.79%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 37.50%.

Hedge Funds Weigh In On TriCo Bancshares

Several hedge funds have recently made changes to their positions in TCBK. Lindbrook Capital LLC boosted its stake in shares of TriCo Bancshares by 124.6% during the fourth quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock worth $34,000 after buying an additional 440 shares during the period. Swiss National Bank lifted its position in TriCo Bancshares by 0.7% in the third quarter. Swiss National Bank now owns 69,400 shares of the financial services provider’s stock valued at $2,223,000 after purchasing an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in TriCo Bancshares by 4.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,223 shares of the financial services provider’s stock valued at $611,000 after purchasing an additional 580 shares during the period. Principal Financial Group Inc. lifted its position in TriCo Bancshares by 8.7% in the fourth quarter. Principal Financial Group Inc. now owns 9,545 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 764 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in TriCo Bancshares by 470.9% in the fourth quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 777 shares during the period. Hedge funds and other institutional investors own 59.11% 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. 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.