Wall Street analysts expect that TriCo Bancshares (NASDAQ:TCBK) will report earnings of $0.72 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for TriCo Bancshares’ earnings. The highest EPS estimate is $0.75 and the lowest is $0.68. TriCo Bancshares reported earnings per share of $0.53 in the same quarter last year, which suggests a positive year-over-year growth rate of 35.8%. The company is expected to report its next earnings report on Monday, November 4th.
According to Zacks, analysts expect that TriCo Bancshares will report full-year earnings of $2.93 per share for the current year, with EPS estimates ranging from $2.85 to $2.99. For the next financial year, analysts expect that the company will post earnings of $2.97 per share, with EPS estimates ranging from $2.87 to $3.05. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow TriCo Bancshares.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. TriCo Bancshares had a net margin of 26.74% and a return on equity of 10.14%. The company had revenue of $77.89 million for the quarter, compared to the consensus estimate of $77.76 million.
A number of brokerages have commented on TCBK. Piper Jaffray Companies began coverage on shares of TriCo Bancshares in a research report on Friday, July 12th. They issued a “neutral” rating and a $41.00 price objective on the stock. BidaskClub downgraded shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th. ValuEngine downgraded shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, July 22nd. Raymond James dropped their price objective on shares of TriCo Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Finally, Zacks Investment Research downgraded shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, October 16th. Three equities research 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’s stock. TriCo Bancshares has a consensus rating of “Hold” and an average target price of $41.50.
Shares of NASDAQ:TCBK traded up $0.65 during trading hours on Monday, reaching $36.92. The stock had a trading volume of 55,000 shares, compared to its average volume of 67,321. TriCo Bancshares has a 1 year low of $31.05 and a 1 year high of $41.31. The firm’s 50 day moving average is $35.91 and its 200-day moving average is $37.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 13.72 and a beta of 0.88.
The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.38%. This is an increase from TriCo Bancshares’s previous quarterly dividend of $0.19. The ex-dividend date was Thursday, September 12th. TriCo Bancshares’s dividend payout ratio (DPR) is 32.71%.
In related news, EVP Craig B. Carney sold 5,166 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $37.02, for a total value of $191,245.32. Following the transaction, the executive vice president now directly owns 26,018 shares of the company’s stock, valued at approximately $963,186.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig B. Carney sold 5,122 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $36.38, for a total transaction of $186,338.36. Following the completion of the transaction, the executive vice president now directly owns 20,896 shares in the company, valued at $760,196.48. The disclosure for this sale can be found here. Company insiders own 10.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aperio Group LLC purchased a new position in shares of TriCo Bancshares in the 2nd quarter valued at $231,000. Charles Schwab Investment Management Inc. grew its position in shares of TriCo Bancshares by 3.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 157,429 shares of the financial services provider’s stock valued at $5,951,000 after buying an additional 5,881 shares during the last quarter. Virginia Retirement Systems ET AL grew its position in shares of TriCo Bancshares by 8.1% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 12,000 shares of the financial services provider’s stock valued at $454,000 after buying an additional 900 shares during the last quarter. LPL Financial LLC purchased a new position in shares of TriCo Bancshares in the 2nd quarter valued at $438,000. Finally, Renaissance Technologies LLC grew its position in shares of TriCo Bancshares by 3.3% in the 2nd quarter. Renaissance Technologies LLC now owns 664,638 shares of the financial services provider’s stock valued at $25,123,000 after buying an additional 21,024 shares during the last quarter. 60.71% of the stock is currently owned by hedge funds and other institutional investors.
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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