Keefe, Bruyette & Woods Issues Pessimistic Forecast for TriCo Bancshares (NASDAQ:TCBK) Stock Price

TriCo Bancshares (NASDAQ:TCBK) had its target price dropped by research analysts at Keefe, Bruyette & Woods from $48.00 to $46.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 17.83% from the company’s current price.

A number of other research analysts have also issued reports on TCBK. Stephens reissued an “overweight” rating and issued a $47.00 target price on shares of TriCo Bancshares in a report on Monday. Raymond James dropped their price objective on shares of TriCo Bancshares from $48.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, TriCo Bancshares presently has a consensus rating of “Hold” and an average target price of $47.80.

TriCo Bancshares Price Performance

TCBK stock opened at $39.04 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.28 billion, a P/E ratio of 11.28 and a beta of 0.53. The business has a 50 day simple moving average of $39.72 and a 200-day simple moving average of $43.28. TriCo Bancshares has a twelve month low of $34.42 and a twelve month high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $98.62 million for the quarter, compared to the consensus estimate of $99.59 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. As a group, equities analysts anticipate that TriCo Bancshares will post 3.35 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TCBK. Teacher Retirement System of Texas boosted its stake in shares of TriCo Bancshares by 22.0% during the 1st quarter. Teacher Retirement System of Texas now owns 10,344 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 1,864 shares in the last quarter. KBC Group NV acquired a new position in TriCo Bancshares during the first quarter worth $61,000. Golden State Wealth Management LLC boosted its position in TriCo Bancshares by 100.9% during the first quarter. Golden State Wealth Management LLC now owns 9,754 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 4,898 shares in the last quarter. Handelsbanken Fonder AB boosted its position in TriCo Bancshares by 26.0% during the first quarter. Handelsbanken Fonder AB now owns 6,300 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 1,300 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in TriCo Bancshares by 21.4% in the first quarter. SG Americas Securities LLC now owns 14,310 shares of the financial services provider’s stock valued at $572,000 after purchasing an additional 2,527 shares during the last quarter. 59.11% of the stock is owned by hedge funds and other institutional investors.

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.