Zacks: Analysts Expect TriCo Bancshares (TCBK) Will Announce Quarterly Sales of $56.99 Million
Equities analysts expect TriCo Bancshares (NASDAQ:TCBK) to post sales of $56.99 million for the current quarter, according to Zacks. Three analysts have issued estimates for TriCo Bancshares’ earnings, with the lowest sales estimate coming in at $56.70 million and the highest estimate coming in at $57.57 million. TriCo Bancshares reported sales of $53.34 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.8%. The company is expected to issue its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that TriCo Bancshares will report full-year sales of $56.99 million for the current year, with estimates ranging from $224.00 million to $225.77 million. For the next fiscal year, analysts forecast that the firm will post sales of $238.84 million per share, with estimates ranging from $237.92 million to $239.90 million. Zacks’ sales calculations are an average based on a survey of research firms that cover TriCo Bancshares.
A number of research firms have recently issued reports on TCBK. Zacks Investment Research lowered shares of TriCo Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. BidaskClub lowered shares of TriCo Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $39.00.
In other news, EVP Craig B. Carney sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $36.00, for a total value of $180,000.00. Following the completion of the sale, the executive vice president now directly owns 18,294 shares of the company’s stock, valued at $658,584. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of TriCo Bancshares by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,077,069 shares of the financial services provider’s stock worth $37,859,000 after purchasing an additional 17,015 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of TriCo Bancshares by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 962,397 shares of the financial services provider’s stock worth $33,828,000 after purchasing an additional 17,023 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of TriCo Bancshares by 4.2% in the second quarter. Vanguard Group Inc. now owns 873,001 shares of the financial services provider’s stock worth $30,686,000 after purchasing an additional 35,343 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of TriCo Bancshares by 4.6% in the second quarter. Goldman Sachs Group Inc. now owns 780,134 shares of the financial services provider’s stock worth $27,422,000 after purchasing an additional 34,467 shares in the last quarter. Finally, FMR LLC lifted its position in shares of TriCo Bancshares by 45.1% in the second quarter. FMR LLC now owns 697,792 shares of the financial services provider’s stock worth $24,527,000 after purchasing an additional 216,734 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.
Shares of TriCo Bancshares (NASDAQ:TCBK) traded down 0.67% during trading on Thursday, reaching $41.71. 101,266 shares of the company traded hands. The firm has a 50-day moving average price of $37.58 and a 200-day moving average price of $36.06. TriCo Bancshares has a 12 month low of $25.43 and a 12 month high of $42.12. The firm has a market capitalization of $956.20 million, a PE ratio of 19.22 and a beta of 0.91.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, September 14th. TriCo Bancshares’s dividend payout ratio (DPR) is 31.34%.
TriCo Bancshares Company Profile
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 & Stock 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 stocks with our FREE daily email newsletter.