Wall Street brokerages expect TriCo Bancshares (NASDAQ:TCBK) to announce sales of $73.92 million for the current quarter, Zacks reports. Three analysts have issued estimates for TriCo Bancshares’ earnings. The highest sales estimate is $74.95 million and the lowest is $73.40 million. TriCo Bancshares posted sales of $57.57 million in the same quarter last year, which suggests a positive year over year growth rate of 28.4%. The company is scheduled to report its next quarterly earnings results on Tuesday, January 29th.
According to Zacks, analysts expect that TriCo Bancshares will report full year sales of $261.70 million for the current fiscal year, with estimates ranging from $260.40 million to $263.31 million. For the next financial year, analysts anticipate that the business will post sales of $305.70 million, with estimates ranging from $305.00 million to $306.51 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow TriCo Bancshares.
TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Monday, October 29th. The financial services provider reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. TriCo Bancshares had a return on equity of 9.80% and a net margin of 18.77%. The business had revenue of $72.68 million for the quarter, compared to analyst estimates of $72.54 million.
TCBK has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded TriCo Bancshares from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Thursday, January 10th. BidaskClub upgraded TriCo Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, November 22nd. Finally, ValuEngine upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. TriCo Bancshares presently has a consensus rating of “Hold” and an average price target of $42.60.
TCBK stock traded up $0.25 during midday trading on Tuesday, reaching $35.72. The company’s stock had a trading volume of 62,248 shares, compared to its average volume of 98,307. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.42. TriCo Bancshares has a 1 year low of $31.05 and a 1 year high of $40.38. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.72 and a beta of 0.85.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 28th. Shareholders of record on Friday, December 14th were paid a $0.19 dividend. This is a positive change from TriCo Bancshares’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, December 13th. This represents a $0.76 dividend on an annualized basis and a yield of 2.13%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 36.54%.
In other news, EVP W Virginia Walker sold 3,443 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was sold at an average price of $35.48, for a total transaction of $122,157.64. Following the transaction, the executive vice president now owns 7,078 shares in the company, valued at $251,127.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 14.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in TCBK. Rhumbline Advisers increased its stake in shares of TriCo Bancshares by 9.9% during the second quarter. Rhumbline Advisers now owns 22,455 shares of the financial services provider’s stock valued at $841,000 after buying an additional 2,025 shares during the period. SG Americas Securities LLC purchased a new position in shares of TriCo Bancshares during the second quarter valued at $110,000. Schwab Charles Investment Management Inc. increased its stake in shares of TriCo Bancshares by 7.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 114,866 shares of the financial services provider’s stock valued at $4,302,000 after buying an additional 7,722 shares during the period. BlackRock Inc. increased its stake in shares of TriCo Bancshares by 4.6% during the second quarter. BlackRock Inc. now owns 1,583,744 shares of the financial services provider’s stock valued at $59,310,000 after buying an additional 69,270 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of TriCo Bancshares by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,234,764 shares of the financial services provider’s stock valued at $46,243,000 after buying an additional 49,770 shares during the period. Hedge funds and other institutional investors own 59.31% of the company’s stock.
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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