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

TriCo Bancshares (NASDAQ:TCBK) had its price target boosted by Keefe, Bruyette & Woods from $50.00 to $55.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 10.04% from the company’s current price.

Other analysts also recently issued reports about the company. Piper Sandler restated an “overweight” rating on shares of TriCo Bancshares in a research report on Monday. DA Davidson upped their target price on shares of TriCo Bancshares from $51.00 to $54.00 and gave the company a “neutral” rating in a report on Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of TriCo Bancshares in a report on Monday, December 29th. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Finally, Raymond James Financial restated an “outperform” rating and set a $46.00 target price (up previously from $45.00) on shares of TriCo Bancshares in a research report on Friday, October 24th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $51.40.

TriCo Bancshares Stock Performance

Shares of TCBK opened at $49.98 on Monday. TriCo Bancshares has a 12-month low of $35.20 and a 12-month high of $52.05. The stock has a market cap of $1.62 billion, a P/E ratio of 13.47 and a beta of 0.63. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $48.38 and a two-hundred day moving average of $45.32.

TriCo Bancshares (NASDAQ:TCBK) last issued 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. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.53%. The business had revenue of $109.40 million during the quarter, compared to analysts’ expectations of $108.19 million. As a group, research analysts predict that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

Institutional Investors Weigh In On TriCo Bancshares

A number of institutional investors have recently made changes to their positions in TCBK. Larson Financial Group LLC boosted its holdings in TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 459 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after buying an additional 211 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of TriCo Bancshares in the 3rd quarter valued at about $58,000. PNC Financial Services Group Inc. bought a new stake in shares of TriCo Bancshares during the 3rd quarter valued at about $76,000. Finally, Federated Hermes Inc. raised its stake in TriCo Bancshares by 17.7% during the second quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 290 shares during the period. 59.11% of the stock is currently owned by institutional investors.

TriCo Bancshares Company Profile

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.