Wall Street brokerages predict that TriCo Bancshares (NASDAQ:TCBK) will report $78.54 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for TriCo Bancshares’ earnings. The highest sales estimate is $78.87 million and the lowest is $78.20 million. TriCo Bancshares posted sales of $72.68 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.1%. The firm is scheduled to issue its next earnings report on Monday, November 4th.
According to Zacks, analysts expect that TriCo Bancshares will report full-year sales of $311.72 million for the current year, with estimates ranging from $310.00 million to $312.90 million. For the next year, analysts expect that the company will post sales of $326.36 million, with estimates ranging from $322.40 million to $329.56 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover TriCo Bancshares.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. The company had revenue of $77.89 million for the quarter, compared to the consensus estimate of $77.76 million. TriCo Bancshares had a return on equity of 10.14% and a net margin of 26.74%.
Shares of NASDAQ:TCBK traded up $0.65 during midday trading on Friday, reaching $36.38. The company’s stock had a trading volume of 72,800 shares, compared to its average volume of 69,441. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.75 and a beta of 0.84. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a 50 day moving average price of $37.45 and a two-hundred day moving average price of $38.65. TriCo Bancshares has a fifty-two week low of $31.05 and a fifty-two week high of $41.31.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.22 per share. This is an increase from TriCo Bancshares’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, September 12th. TriCo Bancshares’s dividend payout ratio is 28.25%.
In other news, Director Michael W. Koehnen purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $35.83 per share, with a total value of $537,450.00. Following the purchase, the director now owns 95,732 shares in the company, valued at $3,430,077.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Craig B. Carney sold 5,166 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $37.02, for a total value of $191,245.32. Following the transaction, the executive vice president now directly owns 26,018 shares in the company, valued at $963,186.36. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its stake in TriCo Bancshares by 1.0% during the 2nd quarter. Wells Fargo & Company MN now owns 66,054 shares of the financial services provider’s stock worth $2,497,000 after buying an additional 632 shares during the period. Virginia Retirement Systems ET AL raised its stake in TriCo Bancshares by 8.1% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 12,000 shares of the financial services provider’s stock worth $454,000 after buying an additional 900 shares during the period. Legal & General Group Plc raised its stake in TriCo Bancshares by 22.7% during the 4th quarter. Legal & General Group Plc now owns 5,011 shares of the financial services provider’s stock worth $169,000 after buying an additional 927 shares during the period. Crawford Investment Counsel Inc. raised its stake in TriCo Bancshares by 0.9% during the 1st quarter. Crawford Investment Counsel Inc. now owns 110,972 shares of the financial services provider’s stock worth $4,360,000 after buying an additional 1,000 shares during the period. Finally, Denali Advisors LLC purchased a new stake in shares of TriCo Bancshares in the second quarter worth approximately $38,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.
TriCo Bancshares Company Profile
TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. It accepts demand, savings, and money market accounts, as well as 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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