Brokerages Expect TriCo Bancshares (NASDAQ:TCBK) Will Announce Quarterly Sales of $86.35 Million

Equities analysts expect TriCo Bancshares (NASDAQ:TCBK – Get Rating) to post sales of $86.35 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for TriCo Bancshares’ earnings. The lowest sales estimate is $81.30 million and the highest is $91.40 million. TriCo Bancshares posted sales of $82.55 million during the same quarter last year, which suggests a positive year over year growth rate of 4.6%. The firm is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that TriCo Bancshares will report full-year sales of $378.90 million for the current year, with estimates ranging from $374.50 million to $383.30 million. For the next fiscal year, analysts forecast that the firm will post sales of $409.85 million, with estimates ranging from $405.50 million to $414.20 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow TriCo Bancshares.

TriCo Bancshares (NASDAQ:TCBK – Get Rating) last issued its earnings results on Wednesday, April 27th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.64 by $0.03. TriCo Bancshares had a net margin of 34.53% and a return on equity of 12.09%.

Several research firms recently commented on TCBK. Zacks Investment Research upgraded shares of TriCo Bancshares from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Wednesday, April 6th. StockNews.com assumed coverage on shares of TriCo Bancshares in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Raymond James upped their target price on shares of TriCo Bancshares from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Wednesday, January 26th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, TriCo Bancshares presently has a consensus rating of “Buy” and an average target price of $47.25.

TriCo Bancshares stock opened at $38.33 on Friday. 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 firm’s 50-day simple moving average is $40.95 and its 200 day simple moving average is $42.94. The firm has a market capitalization of $1.30 billion, a PE ratio of 9.73 and a beta of 0.54.

The company also recently announced a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 11th were issued a $0.25 dividend. The ex-dividend date was Thursday, March 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.61%. TriCo Bancshares’s dividend payout ratio (DPR) is 25.38%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in shares of TriCo Bancshares during the 4th quarter valued at about $26,000. Allworth Financial LP increased its stake in shares of TriCo Bancshares by 47.7% during the 4th quarter. Allworth Financial LP now owns 1,628 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 526 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of TriCo Bancshares during the 3rd quarter valued at about $209,000. Canada Pension Plan Investment Board acquired a new position in shares of TriCo Bancshares during the 4th quarter valued at about $215,000. Finally, Susquehanna International Group LLP acquired a new position in shares of TriCo Bancshares during the 4th quarter valued at about $252,000. 66.05% of the stock is owned by institutional investors.

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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