Zacks Investment Research upgraded shares of TriCo Bancshares (NASDAQ:TCBK) from a hold rating to a buy rating in a report released on Thursday morning. They currently have $46.00 price objective on the financial services provider’s stock.

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. “

Separately, BidaskClub upgraded shares of TriCo Bancshares from a strong sell rating to a sell rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $41.50.

Shares of TriCo Bancshares (NASDAQ:TCBK) traded down $0.56 during trading on Thursday, reaching $41.14. 69,292 shares of the company’s stock traded hands, compared to its average volume of 83,174. TriCo Bancshares has a twelve month low of $25.61 and a twelve month high of $43.22. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.16. The firm has a market cap of $943.81, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.87 and a beta of 0.92.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). TriCo Bancshares had a return on equity of 10.27% and a net margin of 21.87%. The business had revenue of $57.01 million during the quarter, compared to analyst estimates of $56.99 million. equities analysts forecast that TriCo Bancshares will post 2.19 EPS for the current year.

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In related news, EVP Craig B. Carney sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $36.00, for a total transaction of $180,000.00. Following the completion of the transaction, the executive vice president now directly owns 18,294 shares in the company, valued at approximately $658,584. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.10% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in TriCo Bancshares by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,077,069 shares of the financial services provider’s stock worth $37,859,000 after purchasing an additional 17,015 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in TriCo Bancshares by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 962,397 shares of the financial services provider’s stock worth $33,828,000 after acquiring an additional 17,023 shares during the last quarter. Vanguard Group Inc. grew its holdings in TriCo Bancshares by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 873,001 shares of the financial services provider’s stock worth $30,686,000 after acquiring an additional 35,343 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in TriCo Bancshares by 4.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 780,134 shares of the financial services provider’s stock worth $27,422,000 after acquiring an additional 34,467 shares during the last quarter. Finally, FMR LLC grew its holdings in TriCo Bancshares by 45.1% during the 2nd quarter. FMR LLC now owns 697,792 shares of the financial services provider’s stock worth $24,527,000 after acquiring an additional 216,734 shares during the last quarter. Institutional investors and hedge funds own 68.74% of the company’s stock.

TriCo Bancshares Company Profile

TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.

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