TriCo Bancshares (NASDAQ:TCBK) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) has received a consensus rating of "Moderate Buy" from the six brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $47.80.

Several analysts have recently issued reports on TCBK shares. Keefe, Bruyette & Woods lowered their price objective on shares of TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Stephens reaffirmed an "overweight" rating and set a $47.00 price target on shares of TriCo Bancshares in a research report on Monday, April 28th. Finally, Raymond James decreased their price target on shares of TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a research report on Friday, April 25th.

Hedge Funds Weigh In On TriCo Bancshares

Institutional investors have recently added to or reduced their stakes in the company. Ironwood Investment Management LLC grew its position in shares of TriCo Bancshares by 1.6% during the 4th quarter. Ironwood Investment Management LLC now owns 15,670 shares of the financial services provider's stock valued at $685,000 after buying an additional 253 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of TriCo Bancshares by 8.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,347 shares of the financial services provider's stock valued at $146,000 after buying an additional 258 shares during the last quarter. Allworth Financial LP grew its position in shares of TriCo Bancshares by 4.5% during the 1st quarter. Allworth Financial LP now owns 8,294 shares of the financial services provider's stock valued at $327,000 after buying an additional 357 shares during the last quarter. CWM LLC grew its position in shares of TriCo Bancshares by 59.2% during the 1st quarter. CWM LLC now owns 1,116 shares of the financial services provider's stock valued at $45,000 after buying an additional 415 shares during the last quarter. Finally, Two Sigma Securities LLC grew its position in shares of TriCo Bancshares by 8.5% during the 4th quarter. Two Sigma Securities LLC now owns 5,668 shares of the financial services provider's stock valued at $248,000 after buying an additional 446 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company's stock.

TriCo Bancshares Price Performance

Shares of TCBK traded up $0.94 during mid-day trading on Thursday, reaching $40.27. 93,328 shares of the company's stock were exchanged, compared to its average volume of 115,896. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $38.99 and a two-hundred day simple moving average of $42.68. TriCo Bancshares has a 52-week low of $35.20 and a 52-week high of $51.06. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 11.64 and a beta of 0.59.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. The business had revenue of $98.62 million during the quarter, compared to analysts' expectations of $99.59 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. On average, sell-side analysts predict that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

About TriCo Bancshares

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.