FY2017 EPS Estimates for TriCo Bancshares Lowered by DA Davidson (TCBK)
TriCo Bancshares (NASDAQ:TCBK) – DA Davidson decreased their FY2017 EPS estimates for TriCo Bancshares in a report issued on Tuesday. DA Davidson analyst J. Rulis now anticipates that the financial services provider will post earnings per share of $2.20 for the year, down from their prior forecast of $2.22.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). TriCo Bancshares had a net margin of 21.87% and a return on equity of 10.27%. The company had revenue of $57.01 million for the quarter, compared to analysts’ expectations of $56.99 million.
COPYRIGHT VIOLATION WARNING: “FY2017 EPS Estimates for TriCo Bancshares Lowered by DA Davidson (TCBK)” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was copied illegally and republished in violation of international trademark & copyright law. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/11/02/fy2017-eps-estimates-for-trico-bancshares-lowered-by-da-davidson-tcbk.html.
TCBK has been the topic of several other reports. Zacks Investment Research upgraded shares of TriCo Bancshares from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Thursday. BidaskClub upgraded shares of TriCo Bancshares from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. TriCo Bancshares has an average rating of “Hold” and an average price target of $41.50.
Several institutional investors and hedge funds have recently modified their holdings of TCBK. FMR LLC grew its stake in shares of TriCo Bancshares by 45.1% during the 2nd quarter. FMR LLC now owns 697,792 shares of the financial services provider’s stock worth $24,527,000 after acquiring an additional 216,734 shares in the last quarter. Eagle Asset Management Inc. bought a new position in shares of TriCo Bancshares during the 2nd quarter worth approximately $6,843,000. Dimensional Fund Advisors LP grew its stake in shares of TriCo Bancshares by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,060,054 shares of the financial services provider’s stock worth $37,664,000 after acquiring an additional 57,076 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of TriCo Bancshares by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 837,658 shares of the financial services provider’s stock worth $29,762,000 after acquiring an additional 44,746 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of TriCo Bancshares by 4.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 780,134 shares of the financial services provider’s stock worth $27,422,000 after acquiring an additional 34,467 shares in the last quarter. 68.74% of the stock is owned by institutional investors.
In other TriCo Bancshares news, EVP Craig B. Carney sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $37.25, for a total transaction of $186,250.00. Following the sale, the executive vice president now directly owns 23,998 shares in the company, valued at approximately $893,925.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.10% of the company’s stock.
TriCo Bancshares Company Profile
TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.
Receive News & Ratings for TriCo Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriCo Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.