TriCo Bancshares (NASDAQ:TCBK) Price Target Lowered to $50.00 at Keefe, Bruyette & Woods

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) had its target price cut by stock analysts at Keefe, Bruyette & Woods from $53.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 14.08% from the company's current price.

TCBK has been the subject of a number of other reports. DA Davidson lowered shares of TriCo Bancshares from a "buy" rating to a "neutral" rating and raised their price objective for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Stephens dropped their price target on TriCo Bancshares from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Finally, Piper Sandler reduced their price objective on TriCo Bancshares from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $50.75.

TriCo Bancshares Stock Down 0.6 %

Shares of TCBK traded down $0.25 on Tuesday, reaching $43.83. The stock had a trading volume of 54,486 shares, compared to its average volume of 97,036. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $51.06. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 12.65 and a beta of 0.58. The company has a 50-day simple moving average of $45.23 and a 200-day simple moving average of $44.48.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. Sell-side analysts predict that TriCo Bancshares will post 3.33 EPS for the current year.

Insiders Place Their Bets

In related news, Director Cory W. Giese sold 5,100 shares of the company's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total transaction of $252,297.00. Following the completion of the transaction, the director now owns 6,128 shares in the company, valued at approximately $303,152.16. This represents a 45.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.64% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of TriCo Bancshares by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider's stock valued at $33,344,000 after buying an additional 5,155 shares in the last quarter. JPMorgan Chase & Co. lifted its position in TriCo Bancshares by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider's stock worth $19,041,000 after buying an additional 25,817 shares during the last quarter. Curi RMB Capital LLC boosted its stake in TriCo Bancshares by 1.6% during the third quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider's stock worth $14,792,000 after buying an additional 5,314 shares during the period. Assenagon Asset Management S.A. increased its position in TriCo Bancshares by 23.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider's stock valued at $7,035,000 after acquiring an additional 30,227 shares during the last quarter. Finally, Sweeney & Michel LLC raised its stake in shares of TriCo Bancshares by 3.7% in the third quarter. Sweeney & Michel LLC now owns 137,599 shares of the financial services provider's stock valued at $6,171,000 after acquiring an additional 4,921 shares during the period. Institutional investors own 59.11% of the company's stock.

TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.