Analysts Anticipate TriCo Bancshares (NASDAQ:TCBK) Will Announce Quarterly Sales of $94.15 Million

Wall Street brokerages predict that TriCo Bancshares (NASDAQ:TCBKGet Rating) will report $94.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for TriCo Bancshares’ earnings. The lowest sales estimate is $92.60 million and the highest is $95.70 million. TriCo Bancshares posted sales of $83.04 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.4%. The business is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that TriCo Bancshares will report full year sales of $372.50 million for the current fiscal year, with estimates ranging from $369.30 million to $375.70 million. For the next fiscal year, analysts anticipate that the business will report sales of $411.90 million, with estimates ranging from $409.70 million to $414.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow TriCo Bancshares.

TriCo Bancshares (NASDAQ:TCBKGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. TriCo Bancshares had a net margin of 30.61% and a return on equity of 10.62%. The firm had revenue of $83.02 million for the quarter, compared to analysts’ expectations of $86.35 million.

Several equities analysts have recently commented on the stock. Janney Montgomery Scott upgraded shares of TriCo Bancshares from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Tuesday, May 3rd. StockNews.com assumed coverage on shares of TriCo Bancshares in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded shares of TriCo Bancshares from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Wednesday, April 6th. Piper Sandler lowered their price target on shares of TriCo Bancshares from $52.00 to $49.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Raymond James boosted their price target 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 analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $47.67.

TriCo Bancshares stock opened at $42.71 on Thursday. The company’s fifty day simple moving average is $40.40 and its 200-day simple moving average is $42.66. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.12. TriCo Bancshares has a 12 month low of $37.41 and a 12 month high of $48.96. The stock has a market cap of $1.45 billion, a P/E ratio of 12.27 and a beta of 0.55.

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Thursday, March 10th. TriCo Bancshares’s payout ratio is presently 28.74%.

In other TriCo Bancshares news, Director Anthony L. Leggio acquired 1,588 shares of TriCo Bancshares stock in a transaction that occurred on Tuesday, May 3rd. The stock was acquired at an average price of $39.69 per share, with a total value of $63,027.72. Following the purchase, the director now owns 108,597 shares in the company, valued at $4,310,214.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC acquired a new position in TriCo Bancshares during the 4th quarter worth $26,000. Allworth Financial LP lifted its position in TriCo Bancshares by 47.7% during the 4th quarter. Allworth Financial LP now owns 1,628 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 526 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in TriCo Bancshares during the 3rd quarter worth $209,000. Canada Pension Plan Investment Board acquired a new position in TriCo Bancshares during the 4th quarter worth $215,000. Finally, Susquehanna International Group LLP acquired a new position in TriCo Bancshares during the 4th quarter worth $252,000. 57.69% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for TriCo Bancshares (NASDAQ:TCBK)

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