Can TriCo Bancshares (TCBK)’s Tomorrow be Different? The Stock Formed a Ascending Triangle

September 8, 2018 - By Palma Niemeyer

Investors sentiment increased to 1.37 in 2018 Q1. 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.
Ironwood Invest invested 0.55% of its portfolio in TriCo Bancshares (NASDAQ:TCBK). Crawford Counsel holds 101,797 shares or 0.12% of its portfolio. Putnam Investments Limited owns 0% invested in TriCo Bancshares (NASDAQ:TCBK) for 21,443 shares. Thomson Horstmann & Bryant holds 93,885 shares or 0.46% of its portfolio. Heartland stated it has 0.94% of its portfolio in TriCo Bancshares (NASDAQ:TCBK). Bnp Paribas Arbitrage invested in 0% or 4,283 shares. Moreover, State Street has 0% invested in TriCo Bancshares (NASDAQ:TCBK). Geode Mgmt Limited Company reported 0% in TriCo Bancshares (NASDAQ:TCBK). The New Jersey-based Bessemer Grp Inc Incorporated Inc has invested 0% in TriCo Bancshares (NASDAQ:TCBK). The Colorado-based Employees Retirement Association Of Colorado has invested 0% in TriCo Bancshares (NASDAQ:TCBK). California-based Hanson Mcclain has invested 0% in TriCo Bancshares (NASDAQ:TCBK). Deprince Race Zollo reported 328,871 shares. Sei Investments holds 0% in TriCo Bancshares (NASDAQ:TCBK) or 22 shares. Interest Group Incorporated Inc has invested 0% in TriCo Bancshares (NASDAQ:TCBK). 6,875 were reported by Buckhead Capital Mngmt Llc.

The stock of TriCo Bancshares (TCBK) formed an ascending triangle with $37.35 target or 5.00 % below today’s $39.32 share price. The 9 months triangle pattern indicates high risk for the $1.20B company. If the $37.35 price target is reached, the company will be worth $59.80 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.33% or $0.13 during the last trading session, reaching $39.32. About 36,499 shares traded. TriCo Bancshares (NASDAQ:TCBK) has risen 11.73% since September 8, 2017 and is uptrending. It has underperformed by 0.84% the S&P500.

Analysts await TriCo Bancshares (NASDAQ:TCBK) to report earnings on October, 29. They expect $0.59 EPS, up 15.69 % or $0.08 from last year’s $0.51 per share. TCBK’s profit will be $17.95M for 16.66 P/E if the $0.59 EPS becomes a reality. After $0.67 actual EPS reported by TriCo Bancshares for the previous quarter, Wall Street now forecasts -11.94 % 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 4 analyst reports since March 13, 2018 according to SRatingsIntel. The rating was maintained by Raymond James on Tuesday, May 8 with “Outperform”. The firm has “Buy” rating given on Tuesday, March 13 by Keefe Bruyette & Woods. Sandler O’Neill maintained the shares of TCBK in report on Friday, March 23 with “Buy” rating.

More news for TriCo Bancshares (NASDAQ:TCBK) were recently published by: Businesswire.com, which released: “TriCo Bancshares Announces Appointment of New Chief Financial Officer” on August 13, 2018. Streetinsider.com‘s article titled: “TriCo Bancshares (TCBK) Announces Peter Wiese as New EVP & CFO” and published on August 14, 2018 is yet another important article.

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 $1.20 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 20.91 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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