TriCo Bancshares (NASDAQ:TCBK) Stock Rating Upgraded by Stephens

TriCo Bancshares (NASDAQ:TCBK) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued on Thursday, MarketBeat.com reports.

Several other equities analysts also recently commented on TCBK. Raymond James Financial downgraded shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. DA Davidson reduced their target price on shares of TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Weiss Ratings reissued a “buy (b)” rating on shares of TriCo Bancshares in a report on Wednesday, July 8th. Finally, Piper Sandler boosted their price objective on TriCo Bancshares from $61.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, TriCo Bancshares presently has an average rating of “Hold” and an average price target of $56.60.

TriCo Bancshares Price Performance

NASDAQ:TCBK opened at $57.78 on Thursday. TriCo Bancshares has a 12-month low of $40.44 and a 12-month high of $61.71. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.86 and a beta of 0.60. The stock’s 50 day moving average price is $54.64 and its two-hundred day moving average price is $51.26. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $1.06 EPS for the quarter, topping the consensus estimate of $1.03 by $0.03. TriCo Bancshares had a return on equity of 10.27% and a net margin of 24.67%.The company had revenue of $111.88 million during the quarter, compared to the consensus estimate of $110.99 million. On average, analysts anticipate that TriCo Bancshares will post 4.28 earnings per share for the current year.

Hedge Funds Weigh In On TriCo Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC acquired a new position in shares of TriCo Bancshares in the 4th quarter valued at approximately $815,000. SG Americas Securities LLC boosted its position in shares of TriCo Bancshares by 136.8% during the 4th quarter. SG Americas Securities LLC now owns 20,389 shares of the financial services provider’s stock worth $966,000 after acquiring an additional 11,780 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of TriCo Bancshares by 15.2% during the 4th quarter. Deprince Race & Zollo Inc. now owns 87,111 shares of the financial services provider’s stock worth $4,126,000 after acquiring an additional 11,480 shares in the last quarter. marrick wealth LLC bought a new position in TriCo Bancshares in the fourth quarter valued at approximately $778,000. Finally, Rice Hall James & Associates LLC acquired a new position in TriCo Bancshares during the first quarter valued at approximately $4,527,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

About TriCo Bancshares

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.