TriCo Bancshares to Post Q2 2024 Earnings of $0.79 Per Share, DA Davidson Forecasts (NASDAQ:TCBK)

TriCo Bancshares (NASDAQ:TCBK) – Research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for TriCo Bancshares in a report released on Monday, April 29th. DA Davidson analyst J. Rulis forecasts that the financial services provider will earn $0.79 per share for the quarter. DA Davidson has a “Buy” rating and a $45.00 price target on the stock. The consensus estimate for TriCo Bancshares’ current full-year earnings is $3.23 per share. DA Davidson also issued estimates for TriCo Bancshares’ FY2025 earnings at $3.45 EPS.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. TriCo Bancshares had a net margin of 21.25% and a return on equity of 9.87%. The company had revenue of $131.19 million for the quarter, compared to analysts’ expectations of $99.50 million.

Several other brokerages have also weighed in on TCBK. Raymond James increased their price objective on shares of TriCo Bancshares from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Keefe, Bruyette & Woods decreased their price target on shares of TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. Finally, StockNews.com upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

TriCo Bancshares Price Performance

Shares of NASDAQ TCBK opened at $34.77 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average price is $34.28 and its two-hundred day moving average price is $36.19. The company has a market cap of $1.15 billion, a PE ratio of 10.60 and a beta of 0.53. TriCo Bancshares has a twelve month low of $28.66 and a twelve month high of $45.84.

TriCo Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.80%. This is a positive change from TriCo Bancshares’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, March 7th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 40.24%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC grew its position in TriCo Bancshares by 124.6% during the fourth quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock worth $34,000 after buying an additional 440 shares in the last quarter. Swiss National Bank lifted its position in shares of TriCo Bancshares by 0.7% during the 3rd quarter. Swiss National Bank now owns 69,400 shares of the financial services provider’s stock valued at $2,223,000 after acquiring an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of TriCo Bancshares by 4.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,223 shares of the financial services provider’s stock worth $611,000 after purchasing an additional 580 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of TriCo Bancshares by 8.7% in the fourth quarter. Principal Financial Group Inc. now owns 9,545 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 764 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in TriCo Bancshares by 470.9% in the fourth quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 777 shares in the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

About TriCo Bancshares

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.