Wall Street analysts predict that TriCo Bancshares (NASDAQ:TCBK) will report earnings per share of $0.60 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for TriCo Bancshares’ earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.71. TriCo Bancshares posted earnings per share of $0.58 in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The firm is scheduled to report its next earnings report on Thursday, July 26th.
According to Zacks, analysts expect that TriCo Bancshares will report full year earnings of $2.57 per share for the current financial year, with EPS estimates ranging from $2.22 to $2.75. For the next financial year, analysts expect that the company will post earnings of $2.99 per share, with EPS estimates ranging from $2.90 to $3.10. Zacks’ EPS calculations are an average based on a survey of research analysts that follow TriCo Bancshares.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The business had revenue of $57.28 million for the quarter, compared to the consensus estimate of $58.89 million. TriCo Bancshares had a return on equity of 10.06% and a net margin of 17.99%.
A number of equities research analysts recently commented on the company. BidaskClub upgraded TriCo Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. Zacks Investment Research upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, June 6th. Stephens assumed coverage on TriCo Bancshares in a research report on Friday, May 11th. They issued an “overweight” rating and a $43.00 target price on the stock. Raymond James decreased their target price on TriCo Bancshares from $44.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 8th. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $44.00 target price on shares of TriCo Bancshares in a research report on Friday, March 23rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.60.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. WINTON GROUP Ltd bought a new stake in TriCo Bancshares during the first quarter worth approximately $512,000. Ladenburg Thalmann Financial Services Inc. increased its stake in TriCo Bancshares by 10.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,295 shares of the financial services provider’s stock worth $644,000 after acquiring an additional 1,569 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in TriCo Bancshares by 0.8% during the first quarter. The Manufacturers Life Insurance Company now owns 976,215 shares of the financial services provider’s stock worth $36,334,000 after acquiring an additional 7,944 shares during the last quarter. Crawford Investment Counsel Inc. increased its stake in TriCo Bancshares by 8.0% during the first quarter. Crawford Investment Counsel Inc. now owns 101,797 shares of the financial services provider’s stock worth $3,789,000 after acquiring an additional 7,500 shares during the last quarter. Finally, RMB Capital Management LLC increased its stake in TriCo Bancshares by 13.2% during the first quarter. RMB Capital Management LLC now owns 162,611 shares of the financial services provider’s stock worth $6,052,000 after acquiring an additional 18,975 shares during the last quarter. 71.07% of the stock is currently owned by institutional investors.
NASDAQ:TCBK opened at $37.45 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $888.24 million, a P/E ratio of 18.00, a PEG ratio of 1.51 and a beta of 0.83. TriCo Bancshares has a 12 month low of $33.36 and a 12 month high of $43.79.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 15th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, June 14th. This represents a $0.68 annualized dividend and a yield of 1.82%. TriCo Bancshares’s payout ratio is currently 32.69%.
About TriCo Bancshares
TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to retail customers and small to medium-sized businesses. It accepts demand, savings, and money market accounts, as well as time deposits; and provides residential and commercial real estate mortgage, consumer, commercial, agricultural, and real estate construction loans.
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