TriCo Bancshares (NASDAQ:TCBK) Expected to Post Quarterly Sales of $94.15 Million

Equities research analysts expect TriCo Bancshares (NASDAQ:TCBKGet Rating) to announce sales of $94.15 million for the current quarter, according to Zacks. Two analysts have provided estimates for TriCo Bancshares’ earnings. The highest sales estimate is $95.70 million and the lowest is $92.60 million. TriCo Bancshares posted sales of $83.04 million in the same quarter last year, which suggests a positive year over year growth rate of 13.4%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that TriCo Bancshares will report full year sales of $372.50 million for the current financial year, with estimates ranging from $369.30 million to $375.70 million. For the next financial year, analysts anticipate that the firm will report sales of $411.90 million, with estimates ranging from $409.70 million to $414.10 million. Zacks’ sales averages are an average based on a survey of analysts that cover TriCo Bancshares.

TriCo Bancshares (NASDAQ:TCBKGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. TriCo Bancshares had a return on equity of 10.29% and a net margin of 30.61%. The business had revenue of $83.02 million for the quarter, compared to analyst estimates of $86.35 million.

TCBK has been the topic of several recent analyst reports. StockNews.com initiated coverage on TriCo Bancshares in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Stephens upgraded TriCo Bancshares from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $46.00 to $48.00 in a report on Wednesday, May 11th. Janney Montgomery Scott upgraded TriCo Bancshares from a “neutral” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Tuesday, May 3rd. Piper Sandler cut their price objective on TriCo Bancshares from $52.00 to $49.00 and set an “overweight” rating on the stock in a report on Tuesday, May 17th. Finally, Zacks Investment Research upgraded TriCo Bancshares from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Wednesday, April 6th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $47.67.

Shares of TriCo Bancshares stock opened at $45.72 on Thursday. TriCo Bancshares has a 52 week low of $37.41 and a 52 week high of $48.56. The business’s fifty day simple moving average is $41.21 and its 200-day simple moving average is $42.53. The firm has a market cap of $1.55 billion, a PE ratio of 13.14 and a beta of 0.54. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.12.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, June 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 28.74%.

In other TriCo Bancshares news, Director Cory W. Giese sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $42.00, for a total transaction of $105,000.00. Following the completion of the sale, the director now directly owns 9,503 shares of the company’s stock, valued at approximately $399,126. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony L. Leggio acquired 1,588 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The shares were bought at an average cost of $39.69 per share, with a total value of $63,027.72. Following the completion of the transaction, the director now directly owns 108,597 shares in the company, valued at approximately $4,310,214.93. The disclosure for this purchase can be found here. 4.10% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Davis Capital Partners LLC acquired a new position in shares of TriCo Bancshares during the 1st quarter worth $28,105,000. Stieven Capital Advisors L.P. acquired a new position in shares of TriCo Bancshares during the 3rd quarter worth $7,911,000. The Manufacturers Life Insurance Company raised its stake in shares of TriCo Bancshares by 9.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 939,637 shares of the financial services provider’s stock worth $37,614,000 after buying an additional 84,055 shares during the last quarter. State Street Corp raised its stake in shares of TriCo Bancshares by 9.1% during the 1st quarter. State Street Corp now owns 817,166 shares of the financial services provider’s stock worth $32,711,000 after buying an additional 67,917 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of TriCo Bancshares by 534.6% during the 2nd quarter. Morgan Stanley now owns 80,436 shares of the financial services provider’s stock worth $3,423,000 after buying an additional 67,761 shares during the last quarter. Institutional investors own 57.69% of the company’s stock.

TriCo Bancshares Company Profile (Get Rating)

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and 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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