Equities research analysts expect that TriCo Bancshares (NASDAQ:TCBK) will announce $72.52 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for TriCo Bancshares’ earnings, with the lowest sales estimate coming in at $71.40 million and the highest estimate coming in at $74.16 million. TriCo Bancshares reported sales of $57.01 million in the same quarter last year, which indicates a positive year-over-year growth rate of 27.2%. The company is expected to issue its next earnings results on Monday, October 29th.
On average, analysts expect that TriCo Bancshares will report full year sales of $261.31 million for the current fiscal year, with estimates ranging from $258.70 million to $264.73 million. For the next year, analysts forecast that the company will report sales of $307.50 million, with estimates ranging from $305.40 million to $311.21 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow TriCo Bancshares.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.64 by $0.03. The business had revenue of $58.04 million for the quarter, compared to analyst estimates of $60.99 million. TriCo Bancshares had a net margin of 18.39% and a return on equity of 10.38%.
Several equities analysts have recently weighed in on TCBK shares. BidaskClub upgraded shares of TriCo Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Zacks Investment Research upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, ValuEngine downgraded shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. TriCo Bancshares presently has a consensus rating of “Hold” and an average price target of $43.60.
TCBK opened at $35.13 on Friday. The stock has a market capitalization of $1.17 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.51 and a beta of 0.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.81 and a quick ratio of 0.81. TriCo Bancshares has a twelve month low of $34.50 and a twelve month high of $43.79.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a $0.17 dividend. The ex-dividend date was Thursday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.94%. TriCo Bancshares’s payout ratio is 32.69%.
A number of large investors have recently modified their holdings of TCBK. Wells Fargo & Company MN grew its stake in TriCo Bancshares by 2.8% during the first quarter. Wells Fargo & Company MN now owns 55,243 shares of the financial services provider’s stock valued at $2,055,000 after acquiring an additional 1,505 shares in the last quarter. Swiss National Bank grew its stake in TriCo Bancshares by 6.5% during the first quarter. Swiss National Bank now owns 36,000 shares of the financial services provider’s stock valued at $1,340,000 after acquiring an additional 2,200 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in TriCo Bancshares by 3.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 107,144 shares of the financial services provider’s stock valued at $3,988,000 after acquiring an additional 3,144 shares in the last quarter. Northern Trust Corp grew its stake in TriCo Bancshares by 0.5% during the first quarter. Northern Trust Corp now owns 570,295 shares of the financial services provider’s stock valued at $21,226,000 after acquiring an additional 2,659 shares in the last quarter. Finally, BlackRock Inc. grew its stake in TriCo Bancshares by 1.9% during the first quarter. BlackRock Inc. now owns 1,514,474 shares of the financial services provider’s stock valued at $56,368,000 after acquiring an additional 28,670 shares in the last quarter. 53.74% of the stock is owned by institutional investors.
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.
See Also: What is a stock split?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TriCo Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriCo Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.