Keefe, Bruyette & Woods Has Lowered Expectations for TriCo Bancshares (NASDAQ:TCBK) Stock Price

TriCo Bancshares (NASDAQ:TCBK) had its price objective cut by equities researchers at Keefe, Bruyette & Woods from $53.00 to $50.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 12.64% from the stock’s current price.

Several other analysts have also issued reports on the company. DA Davidson lowered TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their price target for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Piper Sandler reduced their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, Stephens dropped their target price on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.75.

TriCo Bancshares Trading Up 1.6 %

Shares of NASDAQ:TCBK opened at $44.39 on Tuesday. TriCo Bancshares has a 52-week low of $31.73 and a 52-week high of $51.06. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 13.21 and a beta of 0.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50-day simple moving average is $45.40 and its two-hundred day simple moving average is $44.46.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. Analysts expect that TriCo Bancshares will post 3.38 EPS for the current year.

Insider Buying and Selling at TriCo Bancshares

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the completion of the sale, the director now directly owns 6,128 shares in the company, valued at approximately $303,152.16. This represents a 45.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.64% of the stock is owned by corporate insiders.

Institutional Trading of TriCo Bancshares

A number of hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of TriCo Bancshares in the 3rd quarter worth approximately $28,000. Point72 DIFC Ltd purchased a new stake in shares of TriCo Bancshares during the 3rd quarter worth $114,000. Quantbot Technologies LP bought a new stake in TriCo Bancshares during the third quarter valued at about $129,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in TriCo Bancshares in the third quarter valued at about $210,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of TriCo Bancshares during the third quarter valued at about $259,000. 59.11% of the stock is owned by hedge funds and other 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.