TriCo Bancshares (NASDAQ:TCBK) Cut to Neutral at DA Davidson

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) was downgraded by equities research analysts at DA Davidson from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They presently have a $53.00 price target on the financial services provider's stock, up from their previous price target of $50.00. DA Davidson's price target would indicate a potential upside of 8.52% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. Stephens lowered their target price on TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $48.00 price objective (up previously from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. Janney Montgomery Scott reissued a "neutral" rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Finally, Piper Sandler cut their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $48.20.

TriCo Bancshares Stock Down 0.2 %

Shares of NASDAQ:TCBK traded down $0.08 during mid-day trading on Tuesday, hitting $48.84. 49,769 shares of the company traded hands, compared to its average volume of 116,246. The firm has a market cap of $1.61 billion, a P/E ratio of 14.56 and a beta of 0.54. TriCo Bancshares has a 52-week low of $31.73 and a 52-week high of $50.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.85. The firm's 50 day simple moving average is $43.46 and its 200 day simple moving average is $41.33.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. The firm had revenue of $133.84 million during the quarter, compared to analyst estimates of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.60%. On average, equities analysts anticipate that TriCo Bancshares will post 3.38 EPS for the current year.

Insider Buying and Selling at TriCo Bancshares

In other news, Director Cory W. Giese sold 3,465 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the completion of the sale, the director now owns 11,228 shares of the company's stock, valued at approximately $484,039.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of the firm's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total transaction of $63,280.00. Following the completion of the sale, the director now directly owns 3,000 shares in the company, valued at approximately $135,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cory W. Giese sold 3,465 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the completion of the transaction, the director now owns 11,228 shares of the company's stock, valued at $484,039.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TriCo Bancshares

Several hedge funds have recently added to or reduced their stakes in TCBK. SG Americas Securities LLC lifted its holdings in shares of TriCo Bancshares by 8.2% during the first quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider's stock valued at $139,000 after acquiring an additional 287 shares during the period. ProShare Advisors LLC lifted its holdings in TriCo Bancshares by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider's stock valued at $205,000 after purchasing an additional 439 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of TriCo Bancshares in the 3rd quarter valued at $210,000. Quantbot Technologies LP bought a new stake in shares of TriCo Bancshares during the 1st quarter valued at about $227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in TriCo Bancshares by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider's stock worth $315,000 after acquiring an additional 758 shares during the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.