TriCo Bancshares (NASDAQ:TCBK) Price Target Cut to $46.00 by Analysts at Keefe, Bruyette & Woods

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) had its target price lowered by equities research analysts at Keefe, Bruyette & Woods from $48.00 to $46.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 20.65% from the stock's current price.

TCBK has been the subject of several other research reports. Stephens reiterated an "overweight" rating and issued a $47.00 target price on shares of TriCo Bancshares in a research note on Monday. Raymond James reduced their price target on TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $47.80.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK traded down $0.38 during mid-day trading on Monday, reaching $38.13. 20,902 shares of the company's stock were exchanged, compared to its average volume of 117,063. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 11.03 and a beta of 0.53. The firm has a 50-day moving average price of $39.95 and a two-hundred day moving average price of $43.35. 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 has a 52 week low of $34.03 and a 52 week high of $51.06.

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

Institutional Trading of TriCo Bancshares

Hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its stake in TriCo Bancshares by 127.0% during the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider's stock worth $2,468,000 after purchasing an additional 32,379 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of TriCo Bancshares by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider's stock valued at $19,041,000 after purchasing an additional 25,817 shares in the last quarter. Assenagon Asset Management S.A. raised its position in TriCo Bancshares by 23.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider's stock worth $7,035,000 after purchasing an additional 30,227 shares during the period. SG Americas Securities LLC boosted its position in TriCo Bancshares by 27.1% during the fourth quarter. SG Americas Securities LLC now owns 11,783 shares of the financial services provider's stock valued at $515,000 after buying an additional 2,512 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in shares of TriCo Bancshares in the fourth quarter worth about $212,000. 59.11% of the stock is owned by institutional investors.

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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