Zacks: Analysts Expect TriCo Bancshares (NASDAQ:TCBK) Will Announce Earnings of $0.48 Per Share

Analysts forecast that TriCo Bancshares (NASDAQ:TCBK) will announce earnings of $0.48 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for TriCo Bancshares’ earnings, with estimates ranging from $0.39 to $0.60. TriCo Bancshares reported earnings per share of $0.75 in the same quarter last year, which suggests a negative year-over-year growth rate of 36%. The business is scheduled to announce its next quarterly earnings results on Thursday, July 23rd.

On average, analysts expect that TriCo Bancshares will report full year earnings of $2.31 per share for the current year, with EPS estimates ranging from $2.18 to $2.40. For the next fiscal year, analysts forecast that the company will report earnings of $2.09 per share, with EPS estimates ranging from $1.45 to $2.50. Zacks’ EPS averages are a mean average based on a survey of research firms that cover TriCo Bancshares.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.05). The company had revenue of $75.01 million for the quarter, compared to analyst estimates of $75.71 million. TriCo Bancshares had a return on equity of 9.64% and a net margin of 26.28%.

TCBK has been the subject of several recent analyst reports. ValuEngine lowered shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, May 19th. Zacks Investment Research downgraded shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, May 15th. Piper Sandler reduced their price target on shares of TriCo Bancshares from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Raymond James raised their price target on shares of TriCo Bancshares from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Finally, BidaskClub upgraded shares of TriCo Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $37.50.

Large investors have recently modified their holdings of the stock. US Bancorp DE raised its position in shares of TriCo Bancshares by 21.1% during the 4th quarter. US Bancorp DE now owns 1,591 shares of the financial services provider’s stock worth $65,000 after buying an additional 277 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of TriCo Bancshares by 6.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 6,373 shares of the financial services provider’s stock worth $260,000 after buying an additional 364 shares in the last quarter. SG Americas Securities LLC raised its position in shares of TriCo Bancshares by 13.1% during the 4th quarter. SG Americas Securities LLC now owns 3,426 shares of the financial services provider’s stock worth $140,000 after buying an additional 397 shares in the last quarter. Rhumbline Advisers raised its position in shares of TriCo Bancshares by 1.3% during the 1st quarter. Rhumbline Advisers now owns 44,318 shares of the financial services provider’s stock worth $1,322,000 after buying an additional 551 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of TriCo Bancshares by 1.5% during the 1st quarter. Swiss National Bank now owns 53,300 shares of the financial services provider’s stock worth $1,589,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

TCBK stock traded down $0.29 during mid-day trading on Monday, hitting $27.81. 257,924 shares of the company were exchanged, compared to its average volume of 123,489. The company has a market capitalization of $835.41 million, a PE ratio of 10.07 and a beta of 0.75. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. TriCo Bancshares has a twelve month low of $23.05 and a twelve month high of $41.42. The firm has a fifty day simple moving average of $27.88 and a 200 day simple moving average of $33.01.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a $0.22 dividend. The ex-dividend date was Thursday, June 11th. This represents a $0.88 annualized dividend and a yield of 3.16%. TriCo Bancshares’s dividend payout ratio is presently 29.33%.

TriCo Bancshares Company Profile

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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