Brokerages Expect TriCo Bancshares (NASDAQ:TCBK) Will Announce Earnings of $0.65 Per Share

Analysts expect TriCo Bancshares (NASDAQ:TCBK – Get Rating) to announce $0.65 earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for TriCo Bancshares’ earnings, with the highest EPS estimate coming in at $0.71 and the lowest estimate coming in at $0.61. TriCo Bancshares posted earnings of $1.13 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 42.5%. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that TriCo Bancshares will report full-year earnings of $3.45 per share for the current financial year, with EPS estimates ranging from $3.38 to $3.54. For the next fiscal year, analysts expect that the company will report earnings of $3.94 per share, with EPS estimates ranging from $3.88 to $4.00. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover TriCo Bancshares.

TriCo Bancshares (NASDAQ:TCBK – Get Rating) last announced its earnings results on Tuesday, January 25th. The financial services provider reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.03. TriCo Bancshares had a return on equity of 12.09% and a net margin of 34.53%. The firm had revenue of $86.29 million for the quarter, compared to the consensus estimate of $83.90 million.

A number of research analysts have issued reports on the stock. Raymond James raised their price target on shares of TriCo Bancshares from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Wednesday, January 26th. StockNews.com initiated coverage on TriCo Bancshares in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research raised shares of 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 analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $47.25.

Shares of TriCo Bancshares stock opened at $38.09 on Wednesday. The firm has a market capitalization of $1.29 billion, a P/E ratio of 9.67 and a beta of 0.54. TriCo Bancshares has a 52 week low of $37.64 and a 52 week high of $48.96. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average price of $41.20 and a 200 day moving average price of $43.01.

The business also recently declared a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Thursday, March 10th. TriCo Bancshares’s dividend payout ratio is presently 25.38%.

A number of large investors have recently bought and sold shares of TCBK. Stieven Capital Advisors L.P. acquired a new position in shares of TriCo Bancshares during the third quarter valued at approximately $7,911,000. Morgan Stanley raised its stake in TriCo Bancshares by 534.6% in the 2nd quarter. Morgan Stanley now owns 80,436 shares of the financial services provider’s stock valued at $3,423,000 after purchasing an additional 67,761 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in TriCo Bancshares in the 4th quarter valued at $2,803,000. BlackRock Inc. boosted its stake in TriCo Bancshares by 2.3% during the 4th quarter. BlackRock Inc. now owns 2,302,574 shares of the financial services provider’s stock worth $98,920,000 after purchasing an additional 51,537 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its holdings in shares of TriCo Bancshares by 27.5% during the third quarter. Deprince Race & Zollo Inc. now owns 215,805 shares of the financial services provider’s stock worth $9,366,000 after buying an additional 46,539 shares in the last quarter. Institutional investors own 66.05% of the company’s stock.

About TriCo Bancshares (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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