Wall Street brokerages expect that TriCo Bancshares (NASDAQ:TCBK) will report $78.70 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for TriCo Bancshares’ earnings. The lowest sales estimate is $78.00 million and the highest is $79.40 million. TriCo Bancshares posted sales of $76.64 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.7%. The business is expected to announce its next earnings report on Tuesday, February 4th.
On average, analysts expect that TriCo Bancshares will report full year sales of $310.23 million for the current year, with estimates ranging from $306.00 million to $313.60 million. For the next financial year, analysts expect that the business will report sales of $318.36 million, with estimates ranging from $317.48 million to $319.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for TriCo Bancshares.
TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. TriCo Bancshares had a return on equity of 10.70% and a net margin of 28.45%. The company had revenue of $78.80 million during the quarter, compared to analysts’ expectations of $77.91 million.
In related news, EVP Craig B. Carney sold 5,122 shares of TriCo Bancshares stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $36.38, for a total value of $186,338.36. Following the sale, the executive vice president now owns 20,896 shares of the company’s stock, valued at approximately $760,196.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc purchased a new position in TriCo Bancshares in the second quarter valued at $138,000. Aperio Group LLC purchased a new stake in TriCo Bancshares in the 2nd quarter worth about $231,000. Macquarie Group Ltd. bought a new position in TriCo Bancshares in the 2nd quarter valued at $242,000. Meeder Asset Management Inc. lifted its stake in TriCo Bancshares by 32.2% in the second quarter. Meeder Asset Management Inc. now owns 8,471 shares of the financial services provider’s stock worth $319,000 after acquiring an additional 2,063 shares during the period. Finally, First Quadrant L P CA purchased a new position in shares of TriCo Bancshares in the 3rd quarter valued at $354,000. Hedge funds and other institutional investors own 62.36% of the company’s stock.
TriCo Bancshares stock traded up $0.41 during mid-day trading on Friday, hitting $38.51. The company had a trading volume of 969 shares, compared to its average volume of 46,281. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 14.32 and a beta of 0.87. TriCo Bancshares has a 12-month low of $31.05 and a 12-month high of $41.31. The company’s fifty day moving average is $37.75 and its 200-day moving average is $37.26. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11.
About TriCo Bancshares
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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