Equities research analysts expect TriCo Bancshares (NASDAQ:TCBK) to report $56.99 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for TriCo Bancshares’ earnings. The lowest sales estimate is $56.70 million and the highest is $57.57 million. TriCo Bancshares posted sales of $53.34 million during the same quarter last year, which suggests a positive year over year growth rate of 6.8%. The firm is expected to report its next earnings results on Wednesday, October 25th.
On average, analysts expect that TriCo Bancshares will report full-year sales of $56.99 million for the current fiscal year, with estimates ranging from $224.00 million to $225.77 million. For the next fiscal year, analysts forecast that the company will report sales of $238.84 million per share, with estimates ranging from $237.92 million to $239.90 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for TriCo Bancshares.
TCBK has been the topic of several research reports. Zacks Investment Research upgraded shares of TriCo Bancshares from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of TriCo Bancshares from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $39.00.
TriCo Bancshares (NASDAQ TCBK) opened at 41.85 on Thursday. The firm has a market capitalization of $959.41 million, a PE ratio of 19.29 and a beta of 0.91. TriCo Bancshares has a one year low of $25.43 and a one year high of $42.12. The stock’s 50 day moving average price is $37.18 and its 200 day moving average price is $35.94.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.62%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 31.34%.
In related news, EVP Craig B. Carney sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $37.25, for a total transaction of $186,250.00. Following the sale, the executive vice president now owns 23,998 shares in the company, valued at $893,925.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eagle Asset Management Inc. acquired a new stake in TriCo Bancshares during the second quarter worth approximately $6,843,000. First Trust Advisors LP boosted its position in TriCo Bancshares by 22.9% during the second quarter. First Trust Advisors LP now owns 72,166 shares of the financial services provider’s stock worth $2,537,000 after acquiring an additional 13,432 shares during the last quarter. Systematic Financial Management LP acquired a new stake in TriCo Bancshares during the first quarter worth approximately $1,414,000. Context BH Capital Management LP boosted its position in TriCo Bancshares by 10.1% during the second quarter. Context BH Capital Management LP now owns 54,484 shares of the financial services provider’s stock worth $1,915,000 after acquiring an additional 5,004 shares during the last quarter. Finally, Sei Investments Co. boosted its position in TriCo Bancshares by 4.2% during the first quarter. Sei Investments Co. now owns 21,072 shares of the financial services provider’s stock worth $749,000 after acquiring an additional 853 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.
About TriCo Bancshares
TriCo Bancshares is a bank holding company. The Company’s principal subsidiary is Tri Counties Bank, a California-chartered commercial bank (the Bank). The Bank offers banking services to retail customers and small to medium-sized businesses through 68 branch offices in Northern and Central California.
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.