TriCo Bancshares (NASDAQ:TCBK) Receives $56.60 Average Price Target from Analysts

TriCo Bancshares (NASDAQ:TCBK) has received an average rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $56.60.

Several research analysts have issued reports on TCBK shares. Piper Sandler upped their price target on TriCo Bancshares from $61.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Raymond James Financial downgraded shares of TriCo Bancshares from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Stephens raised shares of TriCo Bancshares from an “equal weight” rating to an “overweight” rating in a research note on Thursday, August 6th. Finally, DA Davidson decreased their target price on TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, July 27th.

TriCo Bancshares Trading Down 1.6%

TriCo Bancshares stock opened at $55.79 on Friday. TriCo Bancshares has a 12-month low of $40.44 and a 12-month high of $61.71. The stock has a market capitalization of $1.78 billion, a PE ratio of 13.38 and a beta of 0.60. The firm has a 50 day simple moving average of $55.95 and a 200-day simple moving average of $51.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. TriCo Bancshares had a return on equity of 10.23% and a net margin of 24.67%.The company had revenue of $111.88 million for the quarter, compared to the consensus estimate of $110.99 million. As a group, equities research analysts expect that TriCo Bancshares will post 4.28 EPS for the current fiscal year.

Institutional Investors Weigh In On TriCo Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC bought a new position in shares of TriCo Bancshares during the 4th quarter worth about $815,000. GSA Capital Partners LLP bought a new position in shares of TriCo Bancshares during the 2nd quarter worth approximately $1,100,000. Rice Hall James & Associates LLC bought a new position in shares of TriCo Bancshares during the first quarter valued at $4,527,000. marrick wealth LLC acquired a new stake in shares of TriCo Bancshares in the 4th quarter valued at $778,000. Finally, UBS Group AG boosted its stake in shares of TriCo Bancshares by 14.1% in the 4th quarter. UBS Group AG now owns 92,320 shares of the financial services provider’s stock valued at $4,373,000 after purchasing an additional 11,392 shares in the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

About TriCo Bancshares

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.