Zacks: Brokerages Anticipate TriCo Bancshares (TCBK) Will Announce Earnings of $0.60 Per Share

Analysts forecast that TriCo Bancshares (NASDAQ:TCBK) will announce earnings per share of $0.60 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for TriCo Bancshares’ earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.71. TriCo Bancshares posted earnings per share of $0.58 in the same quarter last year, which would indicate a positive year over year growth rate of 3.4%. The firm is scheduled to issue its next quarterly earnings results on Thursday, July 26th.

According to Zacks, analysts expect that TriCo Bancshares will report full-year earnings of $2.54 per share for the current financial year, with EPS estimates ranging from $2.22 to $2.75. For the next financial year, analysts expect that the company will report earnings of $3.00 per share, with EPS estimates ranging from $2.90 to $3.10. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow TriCo Bancshares.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $57.28 million for the quarter, compared to the consensus estimate of $58.89 million. TriCo Bancshares had a net margin of 17.99% and a return on equity of 10.07%.



A number of brokerages have recently issued reports on TCBK. Raymond James dropped their price target on shares of TriCo Bancshares from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, May 8th. Zacks Investment Research raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 25th. Sandler O’Neill reaffirmed a “buy” rating and set a $44.00 price target on shares of TriCo Bancshares in a report on Friday, March 23rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 price target on shares of TriCo Bancshares in a report on Wednesday, January 31st. Finally, BidaskClub raised shares of TriCo Bancshares from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. TriCo Bancshares has an average rating of “Buy” and a consensus price target of $43.60.

Shares of TriCo Bancshares traded down $0.12, reaching $37.52, during trading on Wednesday, according to Marketbeat Ratings. 550 shares of the company traded hands, compared to its average volume of 78,266. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.35. The company has a market cap of $864.58 million, a PE ratio of 17.27, a PEG ratio of 1.48 and a beta of 0.86. TriCo Bancshares has a 52-week low of $37.52 and a 52-week high of $37.80.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its holdings in shares of TriCo Bancshares by 2.8% in the first quarter. Wells Fargo & Company MN now owns 55,243 shares of the financial services provider’s stock worth $2,055,000 after buying an additional 1,505 shares during the last quarter. Thomson Horstmann & Bryant Inc. boosted its holdings in shares of TriCo Bancshares by 1.8% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 93,885 shares of the financial services provider’s stock worth $3,494,000 after buying an additional 1,666 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of TriCo Bancshares by 5.7% in the first quarter. California Public Employees Retirement System now owns 39,541 shares of the financial services provider’s stock worth $1,472,000 after buying an additional 2,125 shares during the last quarter. Swiss National Bank boosted its holdings in shares of TriCo Bancshares by 6.5% in the first quarter. Swiss National Bank now owns 36,000 shares of the financial services provider’s stock worth $1,340,000 after buying an additional 2,200 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of TriCo Bancshares by 0.5% in the first quarter. Northern Trust Corp now owns 570,295 shares of the financial services provider’s stock worth $21,226,000 after buying an additional 2,659 shares during the last quarter. 68.83% of the stock is currently 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.

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

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