TriCo Bancshares (NASDAQ:TCBK) to Post Q2 2024 Earnings of $0.79 Per Share, DA Davidson Forecasts

TriCo Bancshares (NASDAQ:TCBK) – Research analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of TriCo Bancshares in a note issued to investors on Monday, April 29th. DA Davidson analyst J. Rulis forecasts that the financial services provider will post earnings of $0.79 per share for the quarter. DA Davidson has a “Buy” rating and a $45.00 price objective on the stock. The consensus estimate for TriCo Bancshares’ current full-year earnings is $3.26 per share. DA Davidson also issued estimates for TriCo Bancshares’ FY2025 earnings at $3.45 EPS.

A number of other equities analysts have also recently weighed in on the stock. Raymond James lifted their price target on shares of TriCo Bancshares from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. StockNews.com raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods cut their price objective on shares of TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating on the stock in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.00.

TriCo Bancshares Trading Up 2.6 %

Shares of NASDAQ TCBK opened at $35.69 on Tuesday. The company’s fifty day moving average is $34.30 and its 200-day moving average is $36.21. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 10.88 and a beta of 0.53. TriCo Bancshares has a twelve month low of $28.66 and a twelve month high of $45.84. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $131.19 million for the quarter, compared to analysts’ expectations of $99.50 million. TriCo Bancshares had a net margin of 21.25% and a return on equity of 9.87%.

Institutional Investors Weigh In On TriCo Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its stake in TriCo Bancshares by 6.0% in the 4th quarter. Franklin Resources Inc. now owns 1,526,919 shares of the financial services provider’s stock valued at $65,612,000 after buying an additional 86,141 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in TriCo Bancshares by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,414,921 shares of the financial services provider’s stock valued at $60,801,000 after buying an additional 64,815 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in TriCo Bancshares by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 342,419 shares of the financial services provider’s stock valued at $14,714,000 after buying an additional 14,200 shares during the last quarter. RMB Capital Management LLC increased its stake in TriCo Bancshares by 0.3% in the 4th quarter. RMB Capital Management LLC now owns 317,496 shares of the financial services provider’s stock valued at $13,643,000 after buying an additional 840 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in TriCo Bancshares by 37.6% in the 3rd quarter. Schroder Investment Management Group now owns 282,820 shares of the financial services provider’s stock valued at $9,059,000 after buying an additional 77,221 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

TriCo Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $0.33 dividend. This is a boost from TriCo Bancshares’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 3.70%. The ex-dividend date was Thursday, March 7th. TriCo Bancshares’s payout ratio is currently 40.24%.

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. 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; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.