Research analysts at Piper Jaffray Companies initiated coverage on shares of TriCo Bancshares (NASDAQ:TCBK) in a research report issued to clients and investors on Friday, MarketBeat reports. The firm set a “neutral” rating and a $41.00 price target on the financial services provider’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 6.80% from the stock’s previous close.
Several other analysts have also issued reports on TCBK. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Stephens began coverage on LiqTech International in a report on Tuesday, July 9th. They set an “overweight” rating and a $13.00 price objective for the company. Finally, BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. TriCo Bancshares currently has an average rating of “Hold” and an average target price of $41.67.
TCBK opened at $38.39 on Friday. The firm has a fifty day simple moving average of $38.12. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.81 and a beta of 0.85. TriCo Bancshares has a 12-month low of $31.05 and a 12-month high of $41.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.80 and a quick ratio of 0.80.
TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The company had revenue of $75.73 million during the quarter, compared to analyst estimates of $77.05 million. TriCo Bancshares had a return on equity of 10.37% and a net margin of 25.94%. On average, equities analysts expect that TriCo Bancshares will post 3 earnings per share for the current year.
Several large investors have recently made changes to their positions in TCBK. FMR LLC raised its holdings in shares of TriCo Bancshares by 9.9% during the first quarter. FMR LLC now owns 2,461,686 shares of the financial services provider’s stock worth $96,720,000 after acquiring an additional 221,356 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of TriCo Bancshares by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,372,512 shares of the financial services provider’s stock worth $46,377,000 after acquiring an additional 92,775 shares in the last quarter. BlackRock Inc. raised its holdings in shares of TriCo Bancshares by 3.5% during the fourth quarter. BlackRock Inc. now owns 1,887,967 shares of the financial services provider’s stock worth $63,794,000 after acquiring an additional 64,370 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in shares of TriCo Bancshares by 147.5% during the first quarter. Hennessy Advisors Inc. now owns 99,000 shares of the financial services provider’s stock worth $3,890,000 after acquiring an additional 59,000 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of TriCo Bancshares during the fourth quarter worth $1,522,000. Institutional investors and hedge funds own 60.73% of the company’s stock.
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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