Keefe, Bruyette & Woods Lowers TriCo Bancshares (NASDAQ:TCBK) Price Target to $50.00

TriCo Bancshares (NASDAQ:TCBKFree Report) had its target price decreased by Keefe, Bruyette & Woods from $53.00 to $50.00 in a research report report published on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. DA Davidson cut TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Stephens reduced 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. Finally, Piper Sandler lowered their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.75.

Get Our Latest Analysis on TriCo Bancshares

TriCo Bancshares Stock Down 0.2 %

Shares of TCBK stock opened at $44.08 on Tuesday. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $51.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $45.23 and a 200-day moving average of $44.48. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 13.12 and a beta of 0.58.

TriCo Bancshares (NASDAQ:TCBKGet Free Report) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. As a group, equities research analysts predict that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Friday, December 6th. TriCo Bancshares’s dividend payout ratio is currently 39.29%.

Insider Activity

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 transaction of $252,297.00. Following the completion of the sale, the director now directly owns 6,128 shares in the company, valued at $303,152.16. This represents a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in TCBK. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of TriCo Bancshares during the third quarter valued at about $28,000. Point72 DIFC Ltd acquired a new stake in TriCo Bancshares during the 3rd quarter worth approximately $114,000. Quantbot Technologies LP bought a new stake in TriCo Bancshares during the 3rd quarter worth approximately $129,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in TriCo Bancshares in the 3rd quarter valued at approximately $210,000. Finally, Golden State Wealth Management LLC bought a new position in shares of TriCo Bancshares during the fourth quarter valued at $212,000. 59.11% of the stock is owned by institutional investors.

TriCo Bancshares Company Profile

(Get Free Report)

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.

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