TriCo Bancshares (NASDAQ:TCBK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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 raised TriCo Bancshares from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. TriCo Bancshares currently has an average rating of “Hold” and a consensus price target of $39.00.

TriCo Bancshares (NASDAQ:TCBK) opened at 40.85 on Tuesday. The company has a market capitalization of $936.49 million, a P/E ratio of 18.82 and a beta of 0.90. The company has a 50-day moving average of $36.19 and a 200 day moving average of $35.61. TriCo Bancshares has a 12-month low of $25.43 and a 12-month high of $41.03.

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In other TriCo Bancshares news, EVP Craig B. Carney sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the transaction, the executive vice president now directly owns 23,998 shares in the company, valued at $893,925.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.10% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of TCBK. Dimensional Fund Advisors LP raised its stake in shares of TriCo Bancshares by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,077,069 shares of the financial services provider’s stock worth $37,859,000 after buying an additional 17,015 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of 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 valued at $33,828,000 after buying an additional 17,023 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of TriCo Bancshares by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 873,001 shares of the financial services provider’s stock valued at $30,686,000 after buying an additional 35,343 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 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 valued at $27,422,000 after buying an additional 34,467 shares in the last quarter. Finally, FMR LLC lifted its position in shares of TriCo Bancshares by 45.1% during the 2nd quarter. FMR LLC now owns 697,792 shares of the financial services provider’s stock valued at $24,527,000 after buying an additional 216,734 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

About TriCo Bancshares

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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