TriCo Bancshares (NASDAQ:TCBK) Downgraded by Stephens

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Stephens lowered shares of TriCo Bancshares (NASDAQ:TCBK) from an overweight rating to an equal weight rating in a research report report published on Tuesday, BenzingaRatingsTable reports. They currently have $40.00 price target on the financial services provider’s stock.

A number of other research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Zebra Technologies from a hold rating to a sell rating in a research report on Friday, May 24th. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, June 8th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $41.67.

Shares of TCBK stock opened at $38.10 on Tuesday. TriCo Bancshares has a 52-week low of $31.05 and a 52-week high of $41.31. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $38.12. The company has a market cap of $1.15 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.79 and a beta of 0.85.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, June 13th. TriCo Bancshares’s payout ratio is currently 28.25%.

Several hedge funds have recently made changes to their positions in TCBK. Denali Advisors LLC purchased a new stake in shares of TriCo Bancshares during the 2nd quarter valued at approximately $38,000. MUFG Securities EMEA plc purchased a new stake in shares of TriCo Bancshares during the 4th quarter valued at approximately $88,000. Acadian Asset Management LLC purchased a new stake in shares of TriCo Bancshares during the 4th quarter valued at approximately $114,000. Legal & General Group Plc lifted its stake in shares of TriCo Bancshares by 22.7% during the 4th quarter. Legal & General Group Plc now owns 5,011 shares of the financial services provider’s stock valued at $169,000 after buying an additional 927 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of TriCo Bancshares during the 1st quarter valued at approximately $182,000. Institutional investors own 60.73% of the company’s stock.

TriCo Bancshares Company Profile

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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