Could TriCo Bancshares (TCBK) Increase Even More? The Stock Formed Bullish Wedge Up

July 16, 2018 - By Jason Dias

Investors sentiment increased to 1.37 in Q1 2018. Its up 0.35, from 1.02 in 2017Q4. It improved, as 12 investors sold TriCo Bancshares shares while 31 reduced holdings. 14 funds opened positions while 45 raised stakes. 15.98 million shares or 2.42% more from 15.61 million shares in 2017Q4 were reported.
Stone Ridge Asset Mgmt Limited Liability Corp reported 10,792 shares or 0.02% of all its holdings. Ameriprise Finance stated it has 354,983 shares or 0.01% of all its holdings. Mutual Of America Capital Ltd Liability Company reported 104,209 shares stake. Piermont Management holds 38,865 shares. Penn Capital Mngmt Company Inc has 73,916 shares. Martingale Asset Limited Partnership holds 0.01% or 21,500 shares. Legal General Pcl has invested 0% in TriCo Bancshares (NASDAQ:TCBK). Moreover, Sei Invests has 0% invested in TriCo Bancshares (NASDAQ:TCBK). Buckhead Capital Mgmt Ltd Liability Co invested in 6,875 shares. Heartland Advsrs, Wisconsin-based fund reported 377,320 shares. Ameritas Partners has 0% invested in TriCo Bancshares (NASDAQ:TCBK) for 1,576 shares. Ativo Mngmt Limited Liability Corp holds 0.33% of its portfolio in TriCo Bancshares (NASDAQ:TCBK) for 31,096 shares. Dimensional Fund Limited Partnership reported 0.02% stake. California-based Cetera Advisor Netwr Limited Liability Corporation has invested 0.03% in TriCo Bancshares (NASDAQ:TCBK). Manchester Capital Mngmt Ltd Limited Liability Company has invested 0.02% in TriCo Bancshares (NASDAQ:TCBK).

The stock of TriCo Bancshares (TCBK) formed an up wedge with $40.52 target or 9.00 % above today’s $37.17 share price. The 9 months wedge indicates low risk for the $1.13 billion company. If the $40.52 price target is reached, the company will be worth $101.70 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.51% or $0.19 during the last trading session, reaching $37.17. About 30,858 shares traded. TriCo Bancshares (NASDAQ:TCBK) has risen 11.73% since July 16, 2017 and is uptrending. It has underperformed by 0.84% the S&P500.

Analysts await TriCo Bancshares (NASDAQ:TCBK) to report earnings on July, 26. They expect $0.60 earnings per share, up 3.45 % or $0.02 from last year’s $0.58 per share. TCBK’s profit will be $18.24M for 15.49 P/E if the $0.60 EPS becomes a reality. After $0.62 actual earnings per share reported by TriCo Bancshares for the previous quarter, Wall Street now forecasts -3.23 % negative EPS growth.

TriCo Bancshares (NASDAQ:TCBK) Ratings Coverage

Among 4 analysts covering Trico Bancshares (NASDAQ:TCBK), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Trico Bancshares had 6 analyst reports since January 30, 2018 according to SRatingsIntel. As per Tuesday, January 30, the company rating was maintained by Keefe Bruyette & Woods. The stock has “Hold” rating by Keefe Bruyette & Woods on Monday, February 26. The firm has “Outperform” rating given on Tuesday, May 8 by Raymond James. The stock has “Buy” rating by Sandler O’Neill on Friday, March 23. The stock of TriCo Bancshares (NASDAQ:TCBK) has “Buy” rating given on Tuesday, March 13 by Keefe Bruyette & Woods.

Another recent and important TriCo Bancshares (NASDAQ:TCBK) news was published by Businesswire.com which published an article titled: “TriCo Bancshares and FNB Bancorp Complete Merger” on July 06, 2018.

TriCo Bancshares operates as a bank holding firm for Tri Counties Bank that provides commercial banking services to retail clients and small to medium-sized businesses. The company has market cap of $1.13 billion. It accepts demand, savings, and money market accounts, as well as time deposits; and provides residential and commercial real estate mortgage, consumer, commercial, agricultural, and real estate construction loans. It has a 17.21 P/E ratio. The firm also offers installment note collection services; issues cashier's checks; sells travelers checks; and provides safe deposit boxes and other customary banking services.

TriCo Bancshares (NASDAQ:TCBK) Institutional Positions Chart

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