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

TriCo Bancshares (NASDAQ:TCBK) – DA Davidson issued their Q2 2024 earnings per share estimates for TriCo Bancshares in a report released 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 target price on the stock. The consensus estimate for TriCo Bancshares’ current full-year earnings is $3.26 per share. DA Davidson also issued estimates for TriCo Bancshares’ FY2025 earnings at $3.45 EPS.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.83 earnings per share (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 business had revenue of $131.19 million during the quarter, compared to analyst estimates of $99.50 million.

Other equities research analysts have also issued research reports about the company. 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. Keefe, Bruyette & Woods lowered their price objective 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. Finally, StockNews.com upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.00.

TriCo Bancshares Price Performance

TCBK stock opened at $35.69 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. TriCo Bancshares has a 1 year low of $28.66 and a 1 year high of $45.84. The firm has a market cap of $1.18 billion, a P/E ratio of 10.88 and a beta of 0.53. The stock has a 50-day simple moving average of $34.30 and a 200-day simple moving average of $36.21.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. American Century Companies Inc. grew its position in shares of TriCo Bancshares by 30.2% in the 3rd quarter. American Century Companies Inc. now owns 151,451 shares of the financial services provider’s stock worth $4,851,000 after acquiring an additional 35,159 shares in the last quarter. Schroder Investment Management Group grew its position in shares of TriCo Bancshares by 37.6% in the 3rd quarter. Schroder Investment Management Group now owns 282,820 shares of the financial services provider’s stock worth $9,059,000 after acquiring an additional 77,221 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of TriCo Bancshares in the 3rd quarter worth approximately $281,000. Mutual of America Capital Management LLC grew its position in shares of TriCo Bancshares by 15.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 117,987 shares of the financial services provider’s stock worth $5,070,000 after acquiring an additional 16,091 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of TriCo Bancshares by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,219 shares of the financial services provider’s stock worth $10,513,000 after acquiring an additional 15,757 shares in the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.70%. 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. TriCo Bancshares’s dividend payout ratio (DPR) 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.