TriCo Bancshares (NASDAQ:TCBK) PT Lowered to $50.00

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) had its price objective lowered by equities research analysts at Piper Sandler from $53.00 to $50.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price objective would suggest a potential upside of 13.90% from the company's previous close.

A number of other research analysts also recently issued reports on TCBK. Janney Montgomery Scott reiterated a "neutral" rating on shares of TriCo Bancshares in a research note on Friday, July 26th. DA Davidson lifted their target price on shares of TriCo Bancshares from $41.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Finally, Stephens upped their price objective on TriCo Bancshares from $43.00 to $53.00 and gave the stock an "overweight" rating in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, TriCo Bancshares currently has an average rating of "Moderate Buy" and an average target price of $49.20.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK traded up $1.68 during midday trading on Monday, hitting $43.90. 66,874 shares of the company's stock traded hands, compared to its average volume of 116,540. The firm has a fifty day moving average of $43.30 and a 200 day moving average of $40.41. TriCo Bancshares has a 1 year low of $31.73 and a 1 year high of $48.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 13.40 and a beta of 0.54.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. The business had revenue of $133.84 million for the quarter, compared to the consensus estimate of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.60%. On average, analysts forecast that TriCo Bancshares will post 3.34 earnings per share for the current year.

Insider Activity

In related news, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the transaction, the director now owns 3,000 shares of the company's stock, valued at approximately $135,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Cory W. Giese sold 3,465 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the completion of the sale, the director now directly owns 11,228 shares of the company's stock, valued at approximately $484,039.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $135,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.64% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in TriCo Bancshares by 8.2% in the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider's stock worth $139,000 after acquiring an additional 287 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of TriCo Bancshares by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider's stock worth $205,000 after buying an additional 439 shares during the period. Quantbot Technologies LP bought a new stake in shares of TriCo Bancshares in the first quarter valued at about $227,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in TriCo Bancshares by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider's stock worth $315,000 after acquiring an additional 758 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of TriCo Bancshares by 36.2% in the 1st quarter. Principal Financial Group Inc. now owns 13,005 shares of the financial services provider's stock worth $478,000 after purchasing an additional 3,460 shares during the period. Hedge funds and other institutional investors own 59.11% of the company's stock.

About TriCo Bancshares

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.