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