Investment Analysts’ Recent Ratings Changes for TriCo Bancshares (TCBK)
TriCo Bancshares (NASDAQ: TCBK) recently received a number of ratings updates from brokerages and research firms:
- 9/12/2019 – TriCo Bancshares was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “TriCo Bancshares is a bank holding company for Tri Counties Bank. The Bank conducts a commercial banking business including accepting demand, savings and time deposits and making commercial, real estate, and consumer loans. “
- 9/12/2019 – TriCo Bancshares was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 8/30/2019 – TriCo Bancshares was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 8/29/2019 – TriCo Bancshares had its price target lowered by analysts at Raymond James from $42.00 to $41.00. They now have an “outperform” rating on the stock.
- 7/29/2019 – TriCo Bancshares had its “neutral” rating reaffirmed by analysts at Stephens. They wrote, “We are tweaking our EPS estimates in 2020 to $2.96 (was $3.02) and maintaining our Equal-Weight rating given the premium valuation at 13x our updated estimates.””
- 7/26/2019 – TriCo Bancshares was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 7/22/2019 – TriCo Bancshares was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
NASDAQ TCBK traded down $0.22 during trading hours on Tuesday, hitting $36.86. 4,309 shares of the stock were exchanged, compared to its average volume of 61,900. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87. TriCo Bancshares has a 12-month low of $31.05 and a 12-month high of $41.31. The stock has a 50-day moving average of $36.14 and a 200 day moving average of $38.21. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.11.
TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. TriCo Bancshares had a net margin of 26.74% and a return on equity of 10.14%. The company had revenue of $77.89 million during the quarter, compared to analysts’ expectations of $77.76 million. On average, equities research analysts expect that TriCo Bancshares will post 2.95 earnings per share for the current year.
In related news, Director Michael W. Koehnen bought 15,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of $35.83 per share, with a total value of $537,450.00. Following the completion of the acquisition, the director now owns 95,732 shares in the company, valued at approximately $3,430,077.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig B. Carney sold 5,122 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $36.38, for a total transaction of $186,338.36. Following the completion of the transaction, the executive vice president now directly owns 20,896 shares of the company’s stock, valued at $760,196.48. The disclosure for this sale can be found here. Company insiders own 10.30% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Denali Advisors LLC purchased a new position in TriCo Bancshares in the second quarter valued at about $38,000. NEXT Financial Group Inc purchased a new position in shares of TriCo Bancshares during the 2nd quarter worth approximately $138,000. SG Americas Securities LLC purchased a new position in shares of TriCo Bancshares during the 1st quarter worth approximately $182,000. BNP Paribas Arbitrage SA increased its stake in shares of TriCo Bancshares by 374.6% during the 1st 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 in the last quarter. Finally, Aperio Group LLC purchased a new position in shares of TriCo Bancshares during the 2nd quarter worth approximately $231,000. 60.86% of the stock is owned by institutional investors.
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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