DA Davidson Boosts TriCo Bancshares (NASDAQ:TCBK) Price Target to $54.00

TriCo Bancshares (NASDAQ:TCBK) had its price objective lifted by stock analysts at DA Davidson from $51.00 to $54.00 in a research report issued on Friday, MarketBeat reports. The firm currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective indicates a potential upside of 8.04% from the company’s previous close.

Several other research firms also recently commented on TCBK. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TriCo Bancshares in a research note on Monday, December 29th. Keefe, Bruyette & Woods increased their price target on TriCo Bancshares from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. Zacks Research cut TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Raymond James Financial reaffirmed an “outperform” rating and issued a $46.00 price target (up from $45.00) on shares of TriCo Bancshares in a report on Friday, October 24th. Finally, Wall Street Zen raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.40.

TriCo Bancshares Trading Down 2.9%

Shares of TCBK opened at $49.98 on Friday. The stock has a market capitalization of $1.62 billion, a PE ratio of 13.47 and a beta of 0.63. TriCo Bancshares has a fifty-two week low of $35.20 and a fifty-two week high of $52.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The company’s fifty day moving average is $48.38 and its 200 day moving average is $45.31.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.02. TriCo Bancshares had a return on equity of 9.53% and a net margin of 22.56%.The company had revenue of $109.40 million for the quarter, compared to analysts’ expectations of $108.19 million. Sell-side analysts expect that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV acquired a new position in TriCo Bancshares in the 3rd quarter valued at about $6,972,000. ProShare Advisors LLC boosted its position in TriCo Bancshares by 2,137.5% in the 2nd quarter. ProShare Advisors LLC now owns 154,969 shares of the financial services provider’s stock valued at $6,275,000 after buying an additional 148,043 shares during the period. Franklin Resources Inc. boosted its holdings in TriCo Bancshares by 7.9% in the second quarter. Franklin Resources Inc. now owns 1,725,857 shares of the financial services provider’s stock valued at $69,880,000 after purchasing an additional 126,571 shares during the period. Allworth Financial LP boosted its stake in shares of TriCo Bancshares by 1,339.5% in the 2nd quarter. Allworth Financial LP now owns 119,393 shares of the financial services provider’s stock valued at $4,834,000 after buying an additional 111,099 shares during the period. Finally, Millennium Management LLC lifted its stake in TriCo Bancshares by 292.7% in the third quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock worth $6,009,000 after acquiring an additional 100,858 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

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.