TriCo Bancshares (NASDAQ:TCBK) Price Target Raised to $55.00 at Keefe, Bruyette & Woods

TriCo Bancshares (NASDAQ:TCBK) had its price target raised by equities research analysts at Keefe, Bruyette & Woods from $50.00 to $55.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 10.04% from the stock’s previous close.

Several other brokerages also recently issued reports on TCBK. Wall Street Zen upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Piper Sandler reiterated an “overweight” rating on shares of TriCo Bancshares in a research report on Monday. Raymond James Financial reissued an “outperform” rating and set a $46.00 price target (up from $45.00) on shares of TriCo Bancshares in a report on Friday, October 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of TriCo Bancshares in a research report on Monday, December 29th. Finally, Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $51.40.

TriCo Bancshares Stock Performance

Shares of TCBK opened at $49.98 on Monday. The firm has a fifty day moving average of $48.38 and a 200-day moving average of $45.32. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 13.47 and a beta of 0.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a 1 year low of $35.20 and a 1 year high of $52.05.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. The business had revenue of $109.40 million for the quarter, compared to analysts’ expectations of $108.19 million. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.53%. As a group, equities analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current year.

Institutional Trading of TriCo Bancshares

Several hedge funds have recently added to or reduced their stakes in TCBK. Allworth Financial LP lifted its holdings in shares of TriCo Bancshares by 1,339.5% during the second quarter. Allworth Financial LP now owns 119,393 shares of the financial services provider’s stock worth $4,834,000 after buying an additional 111,099 shares during the last quarter. Assetmark Inc. bought a new stake in shares of TriCo Bancshares in the second quarter valued at approximately $396,000. ProShare Advisors LLC grew its stake in shares of TriCo Bancshares by 2,137.5% in the second quarter. ProShare Advisors LLC now owns 154,969 shares of the financial services provider’s stock worth $6,275,000 after acquiring an additional 148,043 shares during the last quarter. Franklin Resources Inc. raised its stake in TriCo Bancshares by 7.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,725,857 shares of the financial services provider’s stock valued at $69,880,000 after purchasing an additional 126,571 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in TriCo Bancshares during the 2nd quarter valued at $665,000. Institutional investors own 59.11% of the company’s stock.

About TriCo Bancshares

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.