TriCo Bancshares (NASDAQ:TCBK) Price Target Raised to $45.00

Key Points

• DA Davidson raised its price target for TriCo Bancshares (NASDAQ: TCBK) from $43.00 to $45.00, indicating a potential upside of 5.46%.
• TriCo Bancshares reported a quarterly earnings per share (EPS) of $0.84, exceeding consensus estimates by $0.02.
• Shares of TriCo Bancshares increased by 1.7%, trading at $42.67 on the day following the price target update.
• Overall, TriCo Bancshares received a "Moderate Buy" rating with a current average price target of $46.60 from analysts.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) had its price target lifted by equities research analysts at DA Davidson from $43.00 to $45.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. DA Davidson's price target suggests a potential upside of 5.46% from the stock's current price.

A number of other brokerages have also recently weighed in on TCBK. Stephens reissued an "overweight" rating and issued a $47.00 price target on shares of TriCo Bancshares in a research report on Monday, April 28th. Keefe, Bruyette & Woods dropped their price target on TriCo Bancshares from $48.00 to $46.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Finally, Raymond James Financial restated an "outperform" rating and issued a $45.00 price target (up previously from $43.00) on shares of TriCo Bancshares in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $46.60.

TriCo Bancshares Stock Up 1.7%

Shares of NASDAQ:TCBK traded up $0.70 during trading on Friday, hitting $42.67. The company's stock had a trading volume of 46,892 shares, compared to its average volume of 106,049. The business has a 50 day moving average price of $40.90 and a two-hundred day moving average price of $41.05. The company has a market capitalization of $1.40 billion, a PE ratio of 12.45 and a beta of 0.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a fifty-two week low of $35.20 and a fifty-two week high of $51.06.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.02. The company had revenue of $103.61 million during the quarter, compared to the consensus estimate of $101.15 million. TriCo Bancshares had a return on equity of 9.28% and a net margin of 21.41%. As a group, research analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

Institutional Investors Weigh In On TriCo Bancshares

Institutional investors have recently modified their holdings of the company. Abound Financial LLC purchased a new stake in shares of TriCo Bancshares during the 1st quarter worth approximately $36,000. Sterling Capital Management LLC boosted its stake in shares of TriCo Bancshares by 800.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider's stock worth $44,000 after acquiring an additional 896 shares in the last quarter. CWM LLC boosted its stake in shares of TriCo Bancshares by 59.2% during the 1st quarter. CWM LLC now owns 1,116 shares of the financial services provider's stock worth $45,000 after acquiring an additional 415 shares in the last quarter. KBC Group NV purchased a new position in shares of TriCo Bancshares during the 1st quarter worth approximately $61,000. Finally, Aquatic Capital Management LLC increased its stake in shares of TriCo Bancshares by 129.5% during the 4th quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock worth $100,000 after purchasing an additional 1,295 shares in the last quarter. 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.

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