TriCo Bancshares (TCBK) Expected to Post Earnings of $0.51 Per Share

Equities research analysts expect that TriCo Bancshares (NASDAQ:TCBK) will announce earnings of $0.51 per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for TriCo Bancshares’ earnings. The highest EPS estimate is $0.52 and the lowest is $0.50. TriCo Bancshares reported earnings per share of $0.41 in the same quarter last year, which suggests a positive year-over-year growth rate of 24.4%. The firm is scheduled to issue its next quarterly earnings report on Thursday, July 27th.

On average, analysts expect that TriCo Bancshares will report full year earnings of $2.10 per share for the current year, with EPS estimates ranging from $2.07 to $2.13. For the next year, analysts expect that the business will report earnings of $2.25 per share, with EPS estimates ranging from $2.20 to $2.28. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for TriCo Bancshares.

TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. The business had revenue of $53.70 million for the quarter, compared to analysts’ expectations of $56.11 million. TriCo Bancshares had a net margin of 20.92% and a return on equity of 9.63%.

TCBK has been the subject of several research reports. FBR & Co reaffirmed a “hold” rating and issued a $37.00 target price on shares of TriCo Bancshares in a research report on Monday, May 1st. Zacks Investment Research raised TriCo Bancshares from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Thursday, June 1st. Finally, ValuEngine raised TriCo Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. TriCo Bancshares currently has a consensus rating of “Buy” and a consensus target price of $35.00.

A number of large investors have recently modified their holdings of TCBK. Dimensional Fund Advisors LP boosted its stake in shares of TriCo Bancshares by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,060,054 shares of the financial services provider’s stock worth $37,664,000 after buying an additional 57,076 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of TriCo Bancshares by 5.6% in the first quarter. Vanguard Group Inc. now owns 837,658 shares of the financial services provider’s stock worth $29,762,000 after buying an additional 44,746 shares in the last quarter. FMR LLC boosted its stake in shares of TriCo Bancshares by 20.0% in the first quarter. FMR LLC now owns 481,058 shares of the financial services provider’s stock worth $17,092,000 after buying an additional 80,157 shares in the last quarter. LSV Asset Management boosted its stake in shares of TriCo Bancshares by 7.4% in the first quarter. LSV Asset Management now owns 423,008 shares of the financial services provider’s stock worth $15,029,000 after buying an additional 29,200 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of TriCo Bancshares by 7.6% in the fourth quarter. State Street Corp now owns 404,816 shares of the financial services provider’s stock worth $13,836,000 after buying an additional 28,493 shares in the last quarter. Institutional investors own 68.53% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.86%. This is a boost from TriCo Bancshares’s previous quarterly dividend of $0.15. TriCo Bancshares’s payout ratio is currently 30.00%.

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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.

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