Keefe, Bruyette & Woods Lowers TriCo Bancshares (NASDAQ:TCBK) Price Target to $46.00

TriCo Bancshares (NASDAQ:TCBK) had its target price trimmed by Keefe, Bruyette & Woods from $48.00 to $46.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on TCBK. Raymond James cut their price target 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. Stephens reiterated an “overweight” rating and issued a $47.00 target price on shares of TriCo Bancshares in a report on Monday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.80.

TriCo Bancshares Price Performance

Shares of NASDAQ:TCBK opened at $38.58 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 11.15 and a beta of 0.53. The business’s 50 day simple moving average is $39.61 and its 200-day simple moving average is $43.25. TriCo Bancshares has a 12 month low of $34.62 and a 12 month high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last posted 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 business had revenue of $98.62 million for the quarter, compared to analysts’ expectations of $99.59 million. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. As a group, equities analysts forecast that TriCo Bancshares will post 3.35 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, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, March 7th. This represents a $1.32 annualized dividend and a yield of 3.42%. TriCo Bancshares’s dividend payout ratio is presently 38.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. bought a new stake in shares of TriCo Bancshares during the first quarter valued at approximately $351,000. Allworth Financial LP raised its stake in TriCo Bancshares by 4.5% during the 1st quarter. Allworth Financial LP now owns 8,294 shares of the financial services provider’s stock valued at $327,000 after acquiring an additional 357 shares in the last quarter. Abound Financial LLC acquired a new position in TriCo Bancshares during the 1st quarter worth $36,000. Teacher Retirement System of Texas increased its holdings in shares of TriCo Bancshares by 22.0% during the first quarter. Teacher Retirement System of Texas now owns 10,344 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 1,864 shares during the period. Finally, KBC Group NV acquired a new stake in TriCo Bancshares in the first quarter worth about $61,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

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.