TriCo Bancshares (NASDAQ:TCBK) Given New $55.00 Price Target at Stephens

TriCo Bancshares (NASDAQ:TCBK) had its price objective hoisted by equities researchers at Stephens from $54.00 to $55.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Stephens’ price objective indicates a potential upside of 10.35% from the stock’s current price.

TCBK has been the subject of a number of other reports. DA Davidson lifted their price objective on shares of TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $59.00 target price on shares of TriCo Bancshares in a report on Monday. Raymond James Financial reiterated an “outperform” rating and issued a $46.00 price target (up previously from $45.00) on shares of TriCo Bancshares in a research note on Friday, October 24th. Zacks Research downgraded shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TriCo Bancshares in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $53.80.

TriCo Bancshares Trading Down 3.2%

Shares of NASDAQ:TCBK opened at $49.84 on Monday. The company’s 50-day moving average price is $48.38 and its two-hundred day moving average price is $45.32. TriCo Bancshares has a one year low of $35.20 and a one year high of $52.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $1.62 billion, a PE ratio of 13.32 and a beta of 0.63.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.01 by $0.02. The company had revenue of $109.40 million during the quarter, compared to the consensus estimate of $108.19 million. TriCo Bancshares had a return on equity of 9.53% and a net margin of 22.56%. On average, equities analysts forecast that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

Institutional Trading of TriCo Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in TCBK. Larson Financial Group LLC increased its stake 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 valued at $26,000 after acquiring an additional 459 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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 purchasing an additional 211 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of TriCo Bancshares in the 3rd quarter valued at $58,000. PNC Financial Services Group Inc. acquired a new position in shares of TriCo Bancshares during the 3rd quarter worth $76,000. Finally, Federated Hermes Inc. lifted its position in shares of TriCo Bancshares by 17.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,928 shares of the financial services provider’s stock worth $78,000 after buying an additional 290 shares during the last quarter. Institutional investors own 59.11% of the company’s stock.

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.