Stephens cut shares of TriCo Bancshares (NASDAQ:TCBK) from an overweight rating to an equal weight rating in a research note released on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has $40.00 price objective on the financial services provider’s stock.

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

Shares of TCBK stock opened at $38.39 on Tuesday. The business’s fifty day simple moving average is $38.12. The firm has a market capitalization of $1.16 billion, a P/E ratio of 14.11, a PEG ratio of 1.81 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 0.80. TriCo Bancshares has a 12-month low of $31.05 and a 12-month high of $41.31.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.98%. The ex-dividend date was Thursday, June 13th. TriCo Bancshares’s payout ratio is 28.25%.

Hedge funds have recently bought and sold shares of the company. Denali Advisors LLC purchased a new stake in shares of TriCo Bancshares during the 2nd quarter worth about $38,000. MUFG Securities EMEA plc purchased a new stake in shares of TriCo Bancshares during the 4th quarter worth about $88,000. Acadian Asset Management LLC purchased a new stake in shares of TriCo Bancshares during the 4th quarter worth about $114,000. SG Americas Securities LLC purchased a new stake in shares of TriCo Bancshares during the 1st quarter worth about $182,000. Finally, Legal & General Group Plc boosted 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 worth $169,000 after acquiring an additional 927 shares in the last quarter. 60.73% of the stock is currently owned by institutional investors and hedge funds.

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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