Keefe, Bruyette & Woods Lowers TriCo Bancshares (NASDAQ:TCBK) Price Target to $46.00

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) had its target price cut by stock 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 would suggest a potential upside of 16.02% from the company's current price.

Several other analysts have also weighed in on TCBK. Raymond James lowered their target price on shares of TriCo Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Stephens reaffirmed an "overweight" rating and set a $47.00 price objective on shares of TriCo Bancshares in a research report on Monday, April 28th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $47.80.

TriCo Bancshares Stock Up 1.3 %

NASDAQ TCBK traded up $0.52 during trading hours on Monday, reaching $39.65. 76,432 shares of the company traded hands, compared to its average volume of 116,815. The company has a 50 day moving average of $39.44 and a two-hundred day moving average of $43.18. The stock has a market capitalization of $1.30 billion, a PE ratio of 11.46 and a beta of 0.59. TriCo Bancshares has a 12 month low of $35.20 and a 12 month high of $51.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $99.59 million. As a group, equities analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. MQS Management LLC bought a new stake in TriCo Bancshares in the first quarter worth about $542,000. CWM LLC increased its holdings in TriCo Bancshares by 59.2% in the first quarter. CWM LLC now owns 1,116 shares of the financial services provider's stock worth $45,000 after buying an additional 415 shares during the last quarter. Alps Advisors Inc. bought a new position in TriCo Bancshares during the first quarter valued at approximately $351,000. Allworth Financial LP lifted its stake in TriCo Bancshares by 4.5% in the first quarter. Allworth Financial LP now owns 8,294 shares of the financial services provider's stock valued at $327,000 after acquiring an additional 357 shares during the last quarter. Finally, Abound Financial LLC bought a new stake in TriCo Bancshares in the first quarter worth approximately $36,000. Institutional investors 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.