Brokers Issue Forecasts for TriCo Bancshares’ Q2 2024 Earnings (NASDAQ:TCBK)

TriCo Bancshares (NASDAQ:TCBK) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share estimates for shares of TriCo Bancshares in a research note issued to investors on Monday, April 29th. DA Davidson analyst J. Rulis anticipates that the financial services provider will post earnings per share of $0.79 for the quarter. DA Davidson currently has a “Buy” rating and a $45.00 price target 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.

Several other brokerages also recently weighed in on TCBK. Keefe, Bruyette & Woods lowered their target price on TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Raymond James increased their target price on TriCo Bancshares from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, StockNews.com upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

TriCo Bancshares Stock Up 2.7 %

NASDAQ TCBK opened at $34.78 on Tuesday. The business has a 50 day moving average price of $34.28 and a two-hundred day moving average price of $36.17. TriCo Bancshares has a fifty-two week low of $28.66 and a fifty-two week high of $45.84. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The stock has a market cap of $1.15 billion, a PE ratio of 10.60 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.02. TriCo Bancshares had a net margin of 21.25% and a return on equity of 9.87%. The company had revenue of $131.19 million during the quarter, compared to the consensus estimate of $99.50 million.

TriCo Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.33 dividend. This is an increase from TriCo Bancshares’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Thursday, March 7th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 40.24%.

Hedge Funds Weigh In On TriCo Bancshares

Large investors have recently bought and sold shares of the business. Lindbrook Capital LLC boosted its position in shares of TriCo Bancshares by 124.6% during the fourth quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock worth $34,000 after buying an additional 440 shares during the period. Quadrant Capital Group LLC grew its position in TriCo Bancshares by 470.9% in the fourth quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock worth $40,000 after buying an additional 777 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of TriCo Bancshares by 49.6% in the 3rd quarter. Quantbot Technologies LP now owns 4,918 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 1,631 shares during the period. Aigen Investment Management LP purchased a new position in shares of TriCo Bancshares in the third quarter worth approximately $213,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TriCo Bancshares by 39.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,215 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 2,024 shares during the period. Institutional investors own 59.11% of the company’s stock.

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.