Wall Street brokerages forecast that TriCo Bancshares (NASDAQ:TCBK) will announce earnings of $0.59 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for TriCo Bancshares’ earnings, with the lowest EPS estimate coming in at $0.55 and the highest estimate coming in at $0.62. TriCo Bancshares posted earnings per share of $0.76 in the same quarter last year, which indicates a negative year-over-year growth rate of 22.4%. The business is expected to issue its next earnings results on Monday, October 26th.
According to Zacks, analysts expect that TriCo Bancshares will report full year earnings of $2.09 per share for the current year, with EPS estimates ranging from $1.97 to $2.31. For the next financial year, analysts expect that the company will report earnings of $2.22 per share, with EPS estimates ranging from $2.10 to $2.38. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow TriCo Bancshares.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.22). The firm had revenue of $76.32 million during the quarter, compared to analysts’ expectations of $76.50 million. TriCo Bancshares had a net margin of 21.67% and a return on equity of 7.86%.
A number of analysts have weighed in on TCBK shares. ValuEngine lowered TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Piper Sandler lowered their target price on TriCo Bancshares from $32.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. BidaskClub upgraded TriCo Bancshares from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 7th. Finally, Zacks Investment Research upgraded TriCo Bancshares from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $34.75.
TriCo Bancshares stock opened at $28.48 on Tuesday. The business has a fifty day moving average of $26.34 and a two-hundred day moving average of $28.10. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.14. The firm has a market cap of $847.54 million, a P/E ratio of 12.44 and a beta of 0.68. TriCo Bancshares has a twelve month low of $23.05 and a twelve month high of $41.42.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Thursday, September 10th. TriCo Bancshares’s payout ratio is presently 29.33%.
In other news, CEO Richard P. Smith sold 10,000 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $27.95, for a total transaction of $279,500.00. Following the transaction, the chief executive officer now directly owns 226,108 shares of the company’s stock, valued at $6,319,718.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.65% of the company’s stock.
Several hedge funds have recently modified their holdings of TCBK. AJO LP acquired a new position in shares of TriCo Bancshares in the 2nd quarter valued at $37,000. FinTrust Capital Advisors LLC acquired a new position in shares of TriCo Bancshares in the 1st quarter valued at $86,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of TriCo Bancshares by 41.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,936 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 1,457 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of TriCo Bancshares by 23.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,283 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 1,587 shares during the period. Finally, Citigroup Inc. increased its position in shares of TriCo Bancshares by 39.2% in the 1st quarter. Citigroup Inc. now owns 8,731 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 2,458 shares during the period. 64.97% of the stock is currently owned by institutional investors and hedge funds.
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. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.
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