FIG Partners Analysts Boost Earnings Estimates for TriCo Bancshares (TCBK)

TriCo Bancshares (NASDAQ:TCBK) – FIG Partners increased their FY2019 earnings estimates for shares of TriCo Bancshares in a research report issued on Wednesday. FIG Partners analyst T. Coffey now expects that the financial services provider will earn $2.95 per share for the year, up from their prior forecast of $2.61. FIG Partners has a “Market Perform” rating on the stock.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). TriCo Bancshares had a return on equity of 10.17% and a net margin of 21.87%. The company had revenue of $57.01 million during the quarter, compared to analyst estimates of $56.99 million.

A number of other research firms have also recently weighed in on TCBK. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $43.00 price target on shares of TriCo Bancshares in a report on Thursday, December 14th. Zacks Investment Research cut TriCo Bancshares from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. ValuEngine cut TriCo Bancshares from a “buy” rating to a “hold” rating in a report on Thursday. Finally, BidaskClub cut TriCo Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 15th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $42.67.

TriCo Bancshares (TCBK) opened at $38.60 on Friday. TriCo Bancshares has a 1-year low of $32.66 and a 1-year high of $43.79. The firm has a market capitalization of $890.13, a price-to-earnings ratio of 17.95, a PEG ratio of 1.72 and a beta of 0.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.79 and a quick ratio of 0.79.

Several large investors have recently made changes to their positions in the company. Federated Investors Inc. PA grew its position in shares of TriCo Bancshares by 0.3% in the second quarter. Federated Investors Inc. PA now owns 11,701 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 35 shares during the period. Wells Fargo & Company MN grew its position in shares of TriCo Bancshares by 0.4% in the second quarter. Wells Fargo & Company MN now owns 39,785 shares of the financial services provider’s stock valued at $1,398,000 after purchasing an additional 141 shares during the period. Ameriprise Financial Inc. grew its position in shares of TriCo Bancshares by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 55,529 shares of the financial services provider’s stock valued at $1,952,000 after purchasing an additional 291 shares during the period. Symphony Asset Management LLC grew its position in shares of TriCo Bancshares by 3.9% in the second quarter. Symphony Asset Management LLC now owns 13,168 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 498 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of TriCo Bancshares by 12.0% in the second quarter. Voya Investment Management LLC now owns 11,633 shares of the financial services provider’s stock valued at $409,000 after purchasing an additional 1,243 shares during the period. 68.96% of the stock is owned by institutional investors and hedge funds.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Thursday, December 14th. TriCo Bancshares’s dividend payout ratio is currently 31.63%.

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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.

Earnings History and Estimates for TriCo Bancshares (NASDAQ:TCBK)

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