TriCo Bancshares (NASDAQ:TCBK) Expected to Post Earnings of $0.72 Per Share

Brokerages predict that TriCo Bancshares (NASDAQ:TCBK) will post earnings of $0.72 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for TriCo Bancshares’ earnings. The lowest EPS estimate is $0.68 and the highest is $0.76. TriCo Bancshares posted earnings of $0.76 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.3%. The business is expected to issue its next quarterly earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that TriCo Bancshares will report full-year earnings of $2.98 per share for the current year, with EPS estimates ranging from $2.92 to $3.02. For the next fiscal year, analysts anticipate that the company will post earnings of $2.90 per share, with EPS estimates ranging from $2.86 to $3.00. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for TriCo Bancshares.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The company had revenue of $78.80 million during the quarter, compared to the consensus estimate of $77.91 million. TriCo Bancshares had a return on equity of 10.70% and a net margin of 28.45%.

Several equities analysts have commented on TCBK shares. Zacks Investment Research raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, November 2nd. BidaskClub upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. ValuEngine raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Raymond James reduced their price objective on TriCo Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $41.50.

In other TriCo Bancshares news, EVP Craig B. Carney sold 5,122 shares of TriCo Bancshares stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $36.38, for a total value of $186,338.36. Following the completion of the sale, the executive vice president now owns 20,896 shares in the company, valued at approximately $760,196.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of TCBK. California State Teachers Retirement System boosted its holdings in TriCo Bancshares by 1.2% in the third quarter. California State Teachers Retirement System now owns 41,705 shares of the financial services provider’s stock valued at $1,514,000 after purchasing an additional 498 shares during the period. Wells Fargo & Company MN raised its position in TriCo Bancshares by 1.0% in the 2nd quarter. Wells Fargo & Company MN now owns 66,054 shares of the financial services provider’s stock valued at $2,497,000 after purchasing an additional 632 shares in the last quarter. Virginia Retirement Systems ET AL boosted its stake 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 period. Bessemer Group Inc. boosted its stake in shares of TriCo Bancshares by 2.3% in the 2nd quarter. Bessemer Group Inc. now owns 67,900 shares of the financial services provider’s stock valued at $2,567,000 after buying an additional 1,500 shares during the period. Finally, RMB Capital Management LLC grew its position in shares of TriCo Bancshares by 1.4% during the second quarter. RMB Capital Management LLC now owns 122,202 shares of the financial services provider’s stock worth $4,619,000 after buying an additional 1,645 shares in the last quarter. Hedge funds and other institutional investors own 62.36% of the company’s stock.

TCBK traded up $0.41 during trading hours on Friday, reaching $38.51. The company’s stock had a trading volume of 969 shares, compared to its average volume of 46,281. TriCo Bancshares has a 52 week low of $31.05 and a 52 week high of $41.31. The company’s 50-day moving average is $37.75 and its 200-day moving average is $37.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $1.18 billion, a PE ratio of 14.32 and a beta of 0.87.

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

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