Wall Street analysts predict that TriCo Bancshares (NASDAQ:TCBK) will announce $0.60 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have provided estimates for TriCo Bancshares’ earnings, with estimates ranging from $0.44 to $0.71. TriCo Bancshares reported earnings of $0.58 per share in the same quarter last year, which would indicate a positive year over year growth rate of 3.4%. The business is expected to issue its next quarterly earnings report on Thursday, July 26th.
On average, analysts expect that TriCo Bancshares will report full year earnings of $2.54 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 business will report earnings of $3.00 per share, with EPS estimates ranging from $2.90 to $3.10. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow TriCo Bancshares.
TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, April 26th. The financial services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. The business had revenue of $57.28 million during the quarter, compared to the consensus estimate of $58.89 million. TriCo Bancshares had a net margin of 17.99% and a return on equity of 10.06%.
Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. BidaskClub raised shares of TriCo Bancshares from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. Raymond James cut their price objective on shares of TriCo Bancshares from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, May 8th. Stephens assumed coverage on shares of TriCo Bancshares in a report on Friday, May 11th. They issued an “overweight” rating and a $43.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised shares of TriCo Bancshares from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 13th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. TriCo Bancshares presently has a consensus rating of “Buy” and a consensus price target of $43.60.
Shares of TCBK stock traded up $0.44 during midday trading on Wednesday, hitting $38.09. 109,700 shares of the company were exchanged, compared to its average volume of 78,359. The company has a market capitalization of $857.69 million, a price-to-earnings ratio of 17.13, a PEG ratio of 1.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 0.79. TriCo Bancshares has a 52 week low of $37.57 and a 52 week high of $37.77.
A number of hedge funds and other institutional investors have recently bought and sold shares of TCBK. Trexquant Investment LP bought a new stake in TriCo Bancshares in the 1st quarter valued at about $205,000. Teacher Retirement System of Texas bought a new stake in TriCo Bancshares in the 4th quarter valued at about $270,000. MetLife Investment Advisors LLC bought a new stake in TriCo Bancshares in the 4th quarter valued at about $371,000. Citadel Advisors LLC boosted its holdings in TriCo Bancshares by 96.3% in the 4th quarter. Citadel Advisors LLC now owns 10,288 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 5,048 shares during the period. Finally, Stone Ridge Asset Management LLC bought a new stake in TriCo Bancshares in the 4th quarter valued at about $409,000. 68.83% of the stock is owned by hedge funds and other institutional investors.
TriCo Bancshares Company Profile
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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