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

TriCo Bancshares (NASDAQ:TCBK) had its price target lowered by research analysts at Keefe, Bruyette & Woods from $53.00 to $50.00 in a research note issued 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 13.25% from the stock’s previous close.

TCBK has been the subject of several other research reports. Piper Sandler reduced their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 28th. DA Davidson cut TriCo Bancshares from a “buy” rating to a “neutral” rating and increased their target price for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th. Finally, Stephens reduced their price target on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.75.

TriCo Bancshares Price Performance

TriCo Bancshares stock opened at $44.15 on Tuesday. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 13.14 and a beta of 0.58. The firm has a 50-day moving average of $45.30 and a two-hundred day moving average of $44.48. TriCo Bancshares has a 1 year low of $31.73 and a 1 year high of $51.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. On average, research analysts forecast that TriCo Bancshares will post 3.38 earnings per share for the current year.

Insider Transactions at TriCo Bancshares

In other news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares 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 sale, the director now directly owns 6,128 shares in the company, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.64% of the company’s stock.

Institutional Investors Weigh In On TriCo Bancshares

A number of large investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of TriCo Bancshares during the third quarter worth $28,000. Point72 DIFC Ltd purchased a new position in shares of TriCo Bancshares during the 3rd quarter valued at about $114,000. Quantbot Technologies LP acquired a new position in shares of TriCo Bancshares in the 3rd quarter valued at about $129,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of TriCo Bancshares in the third quarter worth about $210,000. Finally, Golden State Wealth Management LLC acquired a new stake in TriCo Bancshares during the fourth quarter worth about $212,000. 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.