TriCo Bancshares price target raised to $42 from $40 at Raymond James

Raymond James analyst David Feaster raised the firm’s price target on TriCo Bancshares to $42 from $40 and keeps an Outperform rating on the shares. While the bank isn’t immune from the broader industry pressures and is similarly experiencing NIM compression as deposit migration persists and competition remains intense, TriCo has actively defended its deposit franchise and boasts a cycle-to-date beta of just ~10%, the analyst tells investors in a research note. The firm continues to view the risk/reward favorably.