Keefe, Bruyette & Woods Boosts TriCo Bancshares (NASDAQ:TCBK) Price Target to $55.00

TriCo Bancshares (NASDAQ:TCBK) had its price target raised by equities research analysts at Keefe, Bruyette & Woods from $50.00 to $55.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 12.11% from the stock’s current price.

A number of other equities analysts also recently weighed in on TCBK. DA Davidson boosted their target price on shares of TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Wall Street Zen upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TriCo Bancshares in a research report on Monday, December 29th. Piper Sandler lifted their target price on TriCo Bancshares from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $46.00 price target (up previously from $45.00) on shares of TriCo Bancshares in a research note on Friday, October 24th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.80.

TriCo Bancshares Price Performance

Shares of TriCo Bancshares stock opened at $49.06 on Monday. The firm has a market cap of $1.59 billion, a P/E ratio of 13.22 and a beta of 0.63. The firm’s 50-day simple moving average is $48.56 and its 200-day simple moving average is $45.42. TriCo Bancshares has a twelve month low of $35.20 and a twelve month 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.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. The firm had revenue of $109.40 million during the quarter, compared to analyst estimates of $108.19 million. TriCo Bancshares had a return on equity of 9.53% and a net margin of 22.56%. As a group, research analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

Institutional Trading of TriCo Bancshares

Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in TriCo Bancshares by 17.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,493 shares of the financial services provider’s stock valued at $450,000 after buying an additional 1,400 shares in the last quarter. CWM LLC raised its holdings in shares of TriCo Bancshares by 40.2% during the fourth quarter. CWM LLC now owns 2,806 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 805 shares during the period. San Luis Wealth Advisors LLC lifted its position in TriCo Bancshares by 5.7% in the 4th quarter. San Luis Wealth Advisors LLC now owns 37,351 shares of the financial services provider’s stock valued at $1,769,000 after acquiring an additional 2,001 shares in the last quarter. Farther Finance Advisors LLC lifted its position in TriCo Bancshares by 40.3% in the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 211 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its stake in TriCo Bancshares by 15.2% in the 4th quarter. Deprince Race & Zollo Inc. now owns 87,111 shares of the financial services provider’s stock worth $4,126,000 after purchasing an additional 11,480 shares during the period. 59.11% of the stock is owned by institutional investors.

More TriCo Bancshares News

Here are the key news stories impacting TriCo Bancshares this week:

• Positive Sentiment: Stephens raised its price target to $55 and kept an overweight rating, signaling conviction in TriCo’s outlook and implying ~12% upside from current levels. Read More.
• Positive Sentiment: Keefe, Bruyette & Woods increased its target to $55 (from $50) and maintained a market perform rating, another upward re‑calibration from an institutional analyst. Read More.
• Positive Sentiment: Market writeups highlighted TriCo as a momentum and high‑growth dividend candidate, which can attract yield‑and‑growth oriented investors and support multiple expansion if execution continues. Read More. Read More.
• Positive Sentiment: A recent note reported a raised $54 price target from other coverage, reinforcing a trend of upward PT revisions this week. Read More.
• Neutral Sentiment: Despite the uplifts, the broker consensus recommendation across coverage sits at “Hold,” which mutes a clear buy signal and explains why the stock hasn’t run higher on the news. Read More.

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.