Brokers Issue Forecasts for TriCo Bancshares’ Q4 2018 Earnings (TCBK)

TriCo Bancshares (NASDAQ:TCBK) – Equities researchers at FIG Partners increased their Q4 2018 earnings estimates for shares of TriCo Bancshares in a report issued on Wednesday. FIG Partners analyst T. Coffey now anticipates that the financial services provider will post earnings of $0.63 per share for the quarter, up from their previous forecast of $0.62. FIG Partners has a “Market Perform” rating on the stock. FIG Partners also issued estimates for TriCo Bancshares’ Q4 2019 earnings at $0.80 EPS.

Several other analysts have also issued reports on TCBK. Zacks Investment Research upgraded shares of TriCo Bancshares from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Thursday, November 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $43.00 target price on shares of TriCo Bancshares in a research report on Thursday, December 14th. BidaskClub lowered shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Finally, ValuEngine lowered shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.00.

TriCo Bancshares (NASDAQ:TCBK) traded down $0.20 during mid-day trading on Thursday, reaching $37.82. 81,800 shares of the company traded hands, compared to its average volume of 80,892. TriCo Bancshares has a 52 week low of $32.76 and a 52 week high of $43.79. The firm has a market capitalization of $872.79, a price-to-earnings ratio of 21.74, a PEG ratio of 1.44 and a beta of 0.89. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.08). The firm had revenue of $57.57 million for the quarter, compared to analyst estimates of $58.45 million. TriCo Bancshares had a net margin of 17.52% and a return on equity of 9.74%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in shares of TriCo Bancshares by 0.4% in the second quarter. Wells Fargo & Company MN now owns 39,785 shares of the financial services provider’s stock valued at $1,398,000 after purchasing an additional 141 shares during the period. Ameriprise Financial Inc. grew its position in shares of TriCo Bancshares by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 55,529 shares of the financial services provider’s stock valued at $1,952,000 after purchasing an additional 291 shares during the period. Voya Investment Management LLC grew its position in shares of TriCo Bancshares by 12.0% in the second quarter. Voya Investment Management LLC now owns 11,633 shares of the financial services provider’s stock valued at $409,000 after purchasing an additional 1,243 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in shares of TriCo Bancshares by 10.5% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,832 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 1,501 shares during the period. Finally, Mutual of America Capital Management LLC grew its position in shares of TriCo Bancshares by 2.8% in the third quarter. Mutual of America Capital Management LLC now owns 86,943 shares of the financial services provider’s stock valued at $3,543,000 after purchasing an additional 2,382 shares during the period. Institutional investors and hedge funds own 71.49% of the company’s stock.

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About TriCo Bancshares

TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.

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

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