TriCo Bancshares (TCBK) Downgraded by FIG Partners to “Market Perform”

FIG Partners lowered shares of TriCo Bancshares (NASDAQ:TCBK) from an outperform rating to a market perform rating in a research note released on Wednesday, MarketBeat reports. FIG Partners also issued estimates for TriCo Bancshares’ FY2017 earnings at $2.18 EPS, Q1 2018 earnings at $0.56 EPS, Q3 2018 earnings at $0.53 EPS, Q4 2018 earnings at $0.55 EPS, Q1 2019 earnings at $0.61 EPS, Q2 2019 earnings at $0.64 EPS, Q3 2019 earnings at $0.67 EPS and FY2019 earnings at $2.61 EPS.

A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded TriCo Bancshares from a buy rating to a hold rating in a research report on Friday, November 3rd. BidaskClub downgraded TriCo Bancshares from a sell rating to a strong sell rating in a research report on Saturday, August 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. TriCo Bancshares has a consensus rating of Hold and a consensus price target of $42.00.

TriCo Bancshares (NASDAQ TCBK) opened at $39.73 on Wednesday. TriCo Bancshares has a 52 week low of $32.66 and a 52 week high of $43.79. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $911.45, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 1.82 and a beta of 0.90.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). The business had revenue of $57.01 million during the quarter, compared to the consensus estimate of $56.99 million. TriCo Bancshares had a return on equity of 10.17% and a net margin of 21.87%. equities analysts anticipate that TriCo Bancshares will post 2.18 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.71%. TriCo Bancshares’s dividend payout ratio is currently 31.63%.

Several hedge funds and other institutional investors have recently bought and sold shares of TCBK. SG Americas Securities LLC bought a new position in shares of TriCo Bancshares during the 2nd quarter valued at approximately $129,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of TriCo Bancshares during the 2nd quarter valued at approximately $211,000. Trexquant Investment LP purchased a new stake in TriCo Bancshares during the 2nd quarter valued at $243,000. Susquehanna International Group LLP purchased a new stake in TriCo Bancshares during the 2nd quarter valued at $245,000. Finally, Virtu KCG Holdings LLC purchased a new stake in TriCo Bancshares during the 2nd quarter valued at $248,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

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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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