TriCo Bancshares (NASDAQ:TCBK) Given "Overweight" Rating at Stephens

TriCo Bancshares (NASDAQ:TCBK - Get Free Report)'s stock had its "overweight" rating reaffirmed by analysts at Stephens in a note issued to investors on Monday,Benzinga reports. They presently have a $47.00 price objective on the financial services provider's stock. Stephens' target price indicates a potential upside of 18.54% from the stock's current price.

Several other analysts also recently weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of 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. Raymond James reduced their price objective on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.80.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK traded up $0.52 during midday trading on Monday, hitting $39.65. The company's stock had a trading volume of 76,432 shares, compared to its average volume of 116,815. 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 1-year low of $35.20 and a 1-year high of $51.06. The firm's fifty day moving average price is $39.44 and its 200-day moving average price is $43.18. The firm has a market cap of $1.30 billion, a P/E ratio of 11.46 and a beta of 0.59.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in TriCo Bancshares by 18.1% during the 4th quarter. FMR LLC now owns 2,889,943 shares of the financial services provider's stock valued at $126,291,000 after purchasing an additional 443,858 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in TriCo Bancshares by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider's stock valued at $71,436,000 after buying an additional 39,684 shares in the last quarter. Franklin Resources Inc. grew its holdings in TriCo Bancshares by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider's stock worth $68,546,000 after acquiring an additional 37,191 shares during the period. JPMorgan Chase & Co. raised 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 acquiring an additional 25,817 shares in the last quarter. Finally, Bolthouse Investments LLC acquired a new stake in TriCo Bancshares in the 4th quarter valued at about $15,457,000. Institutional investors and hedge funds 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.