TriCo Bancshares (NASDAQ:TCBK) to Post Q2 2024 Earnings of $0.79 Per Share, DA Davidson Forecasts

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 report issued 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 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) last released its quarterly earnings results 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. The firm had revenue of $131.19 million for the quarter, compared to analyst estimates of $99.50 million. TriCo Bancshares had a net margin of 21.25% and a return on equity of 9.87%.

A number of other analysts have also recently issued reports on TCBK. Raymond James increased their target price on TriCo Bancshares from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods cut their price target on TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Finally, StockNews.com upgraded 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 assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

TriCo Bancshares Price Performance

TriCo Bancshares stock opened at $34.78 on Tuesday. TriCo Bancshares has a 12-month low of $28.66 and a 12-month high of $45.84. The business’s 50-day simple moving average is $34.28 and its 200 day simple moving average is $36.17. 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 price-to-earnings ratio of 10.60 and a beta of 0.53.

Institutional Investors Weigh In On TriCo Bancshares

A number of hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC lifted its stake in shares of TriCo Bancshares by 124.6% during the 4th quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock valued at $34,000 after buying an additional 440 shares in the last quarter. Swiss National Bank boosted its stake in shares of TriCo Bancshares by 0.7% in the 3rd quarter. Swiss National Bank now owns 69,400 shares of the financial services provider’s stock valued at $2,223,000 after purchasing an additional 500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of TriCo Bancshares by 4.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,223 shares of the financial services provider’s stock worth $611,000 after buying an additional 580 shares during the period. Principal Financial Group Inc. boosted its holdings in TriCo Bancshares by 8.7% during the 4th quarter. Principal Financial Group Inc. now owns 9,545 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 764 shares during the period. Finally, Quadrant Capital Group LLC grew its position in TriCo Bancshares by 470.9% during the 4th quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 777 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors.

TriCo Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost 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 payout ratio is 40.24%.

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.