Equities analysts expect TriCo Bancshares (NASDAQ:TCBK) to report $78.60 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for TriCo Bancshares’ earnings, with the lowest sales estimate coming in at $78.00 million and the highest estimate coming in at $79.10 million. TriCo Bancshares reported sales of $76.64 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.6%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 4th.
On average, analysts expect that TriCo Bancshares will report full year sales of $310.17 million for the current financial year, with estimates ranging from $306.00 million to $313.40 million. For the next year, analysts expect that the business will report sales of $318.13 million, with estimates ranging from $317.48 million to $319.20 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover TriCo Bancshares.
TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. TriCo Bancshares had a net margin of 28.45% and a return on equity of 10.70%. The company had revenue of $78.80 million during the quarter, compared to analysts’ expectations of $77.91 million.
Several brokerages have recently commented on TCBK. ValuEngine cut shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday. Piper Jaffray Companies lifted their price objective on shares of TriCo Bancshares from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 17th. Zacks Investment Research lowered shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, January 10th. Finally, BidaskClub lowered shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $42.25.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in TriCo Bancshares by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,303,189 shares of the financial services provider’s stock worth $49,260,000 after acquiring an additional 11,937 shares during the last quarter. Northern Trust Corp lifted its stake in TriCo Bancshares by 1.5% in the second quarter. Northern Trust Corp now owns 631,654 shares of the financial services provider’s stock valued at $23,876,000 after buying an additional 9,265 shares in the last quarter. State Street Corp lifted its stake in TriCo Bancshares by 1.3% in the third quarter. State Street Corp now owns 561,440 shares of the financial services provider’s stock valued at $20,380,000 after buying an additional 7,391 shares in the last quarter. Millennium Management LLC lifted its stake in TriCo Bancshares by 134.1% in the third quarter. Millennium Management LLC now owns 212,537 shares of the financial services provider’s stock valued at $7,715,000 after buying an additional 121,737 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in TriCo Bancshares in the second quarter valued at approximately $6,579,000. 62.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:TCBK opened at $39.56 on Wednesday. TriCo Bancshares has a one year low of $34.25 and a one year high of $41.42. The company has a 50 day moving average of $39.90 and a 200-day moving average of $37.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 14.71 and a beta of 0.88.
The company also recently disclosed a dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, December 12th. TriCo Bancshares’s payout ratio is 32.71%.
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. 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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