TriCo Bancshares (TCBK) Expected to Announce Quarterly Sales of $72.52 Million

Equities research analysts expect TriCo Bancshares (NASDAQ:TCBK) to post $72.52 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for TriCo Bancshares’ earnings, with estimates ranging from $71.40 million to $74.16 million. TriCo Bancshares posted sales of $57.01 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.2%. The firm is expected to announce its next quarterly earnings report on Monday, October 29th.

According to Zacks, analysts expect that TriCo Bancshares will report full-year sales of $261.31 million for the current financial year, with estimates ranging from $258.70 million to $264.73 million. For the next financial year, analysts forecast that the firm will post sales of $307.50 million, with estimates ranging from $305.40 million to $311.21 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for TriCo Bancshares.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, July 26th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.03. TriCo Bancshares had a return on equity of 10.38% and a net margin of 18.39%. The business had revenue of $58.04 million during the quarter, compared to the consensus estimate of $60.99 million.

Several brokerages have recently commented on TCBK. BidaskClub upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, September 8th. Zacks Investment Research upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, ValuEngine lowered TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $43.60.

Shares of TriCo Bancshares stock opened at $35.13 on Friday. The firm has a market cap of $1.17 billion, a PE ratio of 16.89, a PEG ratio of 1.51 and a beta of 0.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.81 and a current ratio of 0.81. TriCo Bancshares has a 12 month low of $34.50 and a 12 month high of $43.79.

The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.94%. TriCo Bancshares’s dividend payout ratio is currently 32.69%.

Several institutional investors have recently made changes to their positions in TCBK. SG Americas Securities LLC purchased a new position in shares of TriCo Bancshares during the second quarter valued at $110,000. Alpine Woods Capital Investors LLC purchased a new position in shares of TriCo Bancshares during the second quarter valued at $262,000. Virginia Retirement Systems ET AL purchased a new position in shares of TriCo Bancshares during the second quarter valued at $386,000. Paloma Partners Management Co purchased a new position in shares of TriCo Bancshares during the second quarter valued at $406,000. Finally, Alps Advisors Inc. purchased a new position in shares of TriCo Bancshares during the second quarter valued at $501,000. Hedge funds and other institutional investors own 53.74% of the company’s stock.

TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to retail customers and small to medium-sized businesses. It accepts demand, savings, and money market accounts, as well as time deposits; and provides residential and commercial real estate mortgage, consumer, commercial, agricultural, and real estate construction loans.

Read More: Ex-Dividend

Get a free copy of the Zacks research report on TriCo Bancshares (TCBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for TriCo Bancshares (NASDAQ:TCBK)

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.

Leave a Reply