Stephens Reaffirms "Overweight" Rating for TriCo Bancshares (NASDAQ:TCBK)

TriCo Bancshares (NASDAQ:TCBK - Get Free Report)'s stock had its "overweight" rating reaffirmed by analysts at Stephens in a report issued on Monday,Benzinga reports. They currently have a $47.00 target price on the financial services provider's stock. Stephens' price objective points to a potential upside of 23.53% from the company's current price.

TCBK has been the topic of a number of other research reports. Raymond James reduced their target price on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a report on Friday. Keefe, Bruyette & Woods reduced their price target on TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating on the stock in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $48.60.

TriCo Bancshares Price Performance

Shares of NASDAQ:TCBK traded down $0.46 during trading on Monday, hitting $38.05. 5,016 shares of the stock were exchanged, compared to its average volume of 116,999. The company has a market cap of $1.25 billion, a PE ratio of 11.02 and a beta of 0.53. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average price of $39.95 and a two-hundred day moving average price of $43.35. TriCo Bancshares has a 12-month low of $34.03 and a 12-month high of $51.06.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. The firm had revenue of $98.62 million during the quarter, compared to analysts' expectations of $99.59 million. On average, analysts forecast that TriCo Bancshares will post 3.35 EPS for the current year.

Institutional Investors Weigh In On TriCo Bancshares

Several large investors have recently added to or reduced their stakes in TCBK. KBC Group NV bought a new stake in TriCo Bancshares in the 1st quarter valued at about $61,000. Golden State Wealth Management LLC increased its holdings in shares of TriCo Bancshares by 100.9% during the first quarter. Golden State Wealth Management LLC now owns 9,754 shares of the financial services provider's stock valued at $390,000 after purchasing an additional 4,898 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of TriCo Bancshares by 26.0% in the 1st quarter. Handelsbanken Fonder AB now owns 6,300 shares of the financial services provider's stock worth $252,000 after acquiring an additional 1,300 shares during the period. SG Americas Securities LLC raised its position in TriCo Bancshares by 21.4% in the first quarter. SG Americas Securities LLC now owns 14,310 shares of the financial services provider's stock worth $572,000 after acquiring an additional 2,527 shares in the last quarter. Finally, Sweeney & Michel LLC acquired a new position in shares of TriCo Bancshares in the 1st quarter valued at $4,963,000. 59.11% of the stock is owned by institutional investors and hedge funds.

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.

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