Stephens Issues Positive Forecast for TriCo Bancshares (NASDAQ:TCBK) Stock Price

TriCo Bancshares (NASDAQ:TCBK) had its price target boosted by analysts at Stephens from $54.00 to $55.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Stephens’ target price points to a potential upside of 10.35% from the company’s previous close.

A number of other research analysts also recently weighed in on TCBK. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TriCo Bancshares in a research note on Monday, December 29th. Keefe, Bruyette & Woods boosted their price target on shares of TriCo Bancshares from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday. Wall Street Zen raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. 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, Raymond James Financial reiterated an “outperform” rating and set a $46.00 price target (up previously from $45.00) on shares of TriCo Bancshares in a research note on Friday, October 24th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, TriCo Bancshares presently has a consensus rating of “Hold” and an average target price of $53.80.

TriCo Bancshares Price Performance

TCBK stock opened at $49.84 on Monday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 13.32 and a beta of 0.63. 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 company has a 50 day simple moving average of $48.38 and a 200 day simple moving average of $45.32. TriCo Bancshares has a 1 year low of $35.20 and a 1 year high of $52.05.

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

Institutional Investors Weigh In On TriCo Bancshares

Several large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in TriCo Bancshares by 337.5% during the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 459 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock worth $35,000 after buying an additional 211 shares during the period. State of Alaska Department of Revenue bought a new stake in TriCo Bancshares during the 3rd quarter valued at $58,000. PNC Financial Services Group Inc. purchased a new stake in shares of TriCo Bancshares during the third quarter worth $76,000. Finally, Federated Hermes Inc. boosted its holdings in shares of TriCo Bancshares by 17.7% in 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. Hedge funds and other 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.