TriCo Bancshares (NASDAQ:TCBK) Expected to Post Q2 2024 Earnings of $0.79 Per Share

TriCo Bancshares (NASDAQ:TCBK - Free Report) - Equities researchers at DA Davidson issued their Q2 2024 earnings per share estimates for shares of TriCo Bancshares in a research note issued on Monday, April 29th. DA Davidson analyst J. Rulis expects that the financial services provider will earn $0.79 per share for the quarter. DA Davidson has a "Buy" rating and a $45.00 price objective on the stock. The consensus estimate for TriCo Bancshares' current full-year earnings is $3.23 per share. DA Davidson also issued estimates for TriCo Bancshares' FY2025 earnings at $3.45 EPS.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.02. TriCo Bancshares had a return on equity of 9.87% and a net margin of 21.25%. The firm had revenue of $131.19 million for the quarter, compared to analyst estimates of $99.50 million.

Several other analysts have also issued reports on TCBK. StockNews.com raised TriCo Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday. Keefe, Bruyette & Woods reduced their target price on TriCo Bancshares from $44.00 to $42.00 and set a "market perform" rating on the stock in a report on Friday, January 26th. Finally, Raymond James increased their target price on TriCo Bancshares from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, TriCo Bancshares presently has an average rating of "Moderate Buy" and an average target price of $42.00.

TriCo Bancshares Stock Performance

NASDAQ TCBK traded down $0.01 on Tuesday, reaching $34.77. The stock had a trading volume of 123,866 shares, compared to its average volume of 116,418. The company has a market cap of $1.15 billion, a P/E ratio of 10.60 and a beta of 0.53. TriCo Bancshares has a 1-year low of $28.66 and a 1-year high of $45.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a fifty day moving average of $34.28 and a two-hundred day moving average of $36.19.

TriCo Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from TriCo Bancshares's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 3.80%. TriCo Bancshares's dividend payout ratio (DPR) is 40.24%.

Institutional Trading of TriCo Bancshares

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in TriCo Bancshares by 36.2% in the first quarter. Principal Financial Group Inc. now owns 13,005 shares of the financial services provider's stock valued at $478,000 after purchasing an additional 3,460 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in TriCo Bancshares in the first quarter valued at about $2,141,000. RMB Capital Management LLC raised its position in TriCo Bancshares by 0.3% in the fourth quarter. RMB Capital Management LLC now owns 317,496 shares of the financial services provider's stock valued at $13,643,000 after purchasing an additional 840 shares during the last quarter. Eagle Asset Management Inc. bought a new position in TriCo Bancshares in the fourth quarter valued at about $8,000,000. Finally, Brown Brothers Harriman & Co. bought a new position in TriCo Bancshares in the fourth quarter valued at about $429,000. 59.11% of the stock is 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. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.