Stephens Raises TriCo Bancshares (NASDAQ:TCBK) Price Target to $55.00

TriCo Bancshares (NASDAQ:TCBK) had its target price raised by Stephens from $54.00 to $55.00 in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Stephens’ price objective would suggest a potential upside of 12.11% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Wall Street Zen raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. DA Davidson increased their price target on shares of TriCo Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Raymond James Financial reaffirmed an “outperform” rating and set a $46.00 price objective (up from $45.00) on shares of TriCo Bancshares in a report on Friday, October 24th. Keefe, Bruyette & Woods upped their target price on shares of TriCo Bancshares from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday. Finally, Piper Sandler raised their price target on TriCo Bancshares from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Monday. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $53.80.

TriCo Bancshares Price Performance

NASDAQ:TCBK opened at $49.06 on Monday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 13.22 and a beta of 0.63. TriCo Bancshares has a 52-week low of $35.20 and a 52-week high of $52.05. The stock has a fifty day moving average of $48.56 and a 200 day moving average of $45.42. 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 announced its earnings results on Thursday, January 22nd. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. TriCo Bancshares had a return on equity of 9.53% and a net margin of 22.56%.The business had revenue of $109.40 million for the quarter, compared to analyst estimates of $108.19 million. On average, research analysts expect that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

Institutional Trading of TriCo Bancshares

A number of institutional investors have recently modified their holdings of TCBK. Mercer Global Advisors Inc. ADV purchased a new position in TriCo Bancshares during the 3rd quarter valued at about $6,972,000. ProShare Advisors LLC grew its position in shares of 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 worth $6,275,000 after buying an additional 148,043 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of TriCo Bancshares by 7.9% during 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 buying an additional 126,571 shares during the period. Allworth Financial LP increased its stake in shares of TriCo Bancshares by 1,339.5% during the second 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 raised its holdings in shares of TriCo Bancshares by 292.7% during the third quarter. Millennium Management LLC now owns 135,318 shares of the financial services provider’s stock valued at $6,009,000 after acquiring an additional 100,858 shares in the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting TriCo Bancshares

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.

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.