TriCo Bancshares (NASDAQ:TCBK) Receives $53.80 Average Price Target from Analysts

Shares of TriCo Bancshares (NASDAQ:TCBK) have earned an average recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $53.80.

TCBK has been the subject of a number of research reports. Stephens lifted their price objective on shares of TriCo Bancshares from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, January 26th. DA Davidson increased their price objective on TriCo Bancshares from $51.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Zacks Research cut TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Piper Sandler increased their price target on TriCo Bancshares from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Finally, Keefe, Bruyette & Woods boosted their price objective on TriCo Bancshares from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday, January 26th.

TriCo Bancshares Trading Down 2.8%

Shares of NASDAQ TCBK opened at $49.05 on Friday. The stock has a fifty day simple moving average of $49.52 and a 200-day simple moving average of $46.60. TriCo Bancshares has a twelve month low of $35.20 and a twelve month high of $53.18. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.59 billion, a PE ratio of 13.22 and a beta of 0.64.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.02. The company had revenue of $109.40 million during the quarter, compared to analysts’ expectations of $108.19 million. TriCo Bancshares had a return on equity of 9.53% and a net margin of 22.56%. On average, equities analysts forecast that TriCo Bancshares will post 3.35 earnings per share for the current year.

Institutional Investors Weigh In On TriCo Bancshares

Several institutional investors have recently modified their holdings of TCBK. Vanguard Group Inc. grew its stake in shares of TriCo Bancshares by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 1,922,988 shares of the financial services provider’s stock worth $91,092,000 after purchasing an additional 38,311 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of TriCo Bancshares by 7.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,725,857 shares of the financial services provider’s stock valued at $69,880,000 after acquiring an additional 126,571 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of TriCo Bancshares by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,683,048 shares of the financial services provider’s stock worth $74,744,000 after acquiring an additional 14,748 shares in the last quarter. Davis Asset Management L.P. lifted its stake in TriCo Bancshares by 2.6% during the second quarter. Davis Asset Management L.P. now owns 1,046,900 shares of the financial services provider’s stock worth $42,389,000 after purchasing an additional 26,100 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in TriCo Bancshares by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 777,826 shares of the financial services provider’s stock valued at $36,851,000 after purchasing an additional 6,793 shares in the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Company Profile

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.