TriCo Bancshares price target lowered to $40 from $45 at Raymond James

Raymond James analyst David Feaster lowered the firm’s price target on TriCo Bancshares to $40 from $45 and keeps an Outperform rating on the shares. Core trends were somewhat mixed in Q1, and while the bank is not immune from broader industry pressures, the bank has actively defended its deposit franchise and boasts a cycle-to-date beta of just ~5%, the analyst tells investors in a research note.