$78.54 Million in Sales Expected for TriCo Bancshares (NASDAQ:TCBK) This Quarter
Brokerages expect that TriCo Bancshares (NASDAQ:TCBK) will post sales of $78.54 million for the current quarter, according to Zacks. Four analysts have issued estimates for TriCo Bancshares’ earnings. The highest sales estimate is $78.87 million and the lowest is $78.20 million. TriCo Bancshares reported sales of $72.68 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.1%. The company is expected to announce its next earnings results on Monday, November 4th.
On average, analysts expect that TriCo Bancshares will report full-year sales of $311.72 million for the current financial year, with estimates ranging from $310.00 million to $312.90 million. For the next year, analysts forecast that the business will report sales of $326.36 million, with estimates ranging from $322.40 million to $329.56 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow TriCo Bancshares.
TriCo Bancshares (NASDAQ:TCBK) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.02. TriCo Bancshares had a net margin of 26.74% and a return on equity of 10.29%. The business had revenue of $77.89 million during the quarter, compared to analyst estimates of $77.76 million.
In other TriCo Bancshares news, EVP Craig B. Carney sold 5,166 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $37.02, for a total transaction of $191,245.32. Following the sale, the executive vice president now directly owns 26,018 shares in the company, valued at approximately $963,186.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael W. Koehnen purchased 15,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $35.83 per share, for a total transaction of $537,450.00. Following the completion of the transaction, the director now directly owns 95,732 shares in the company, valued at approximately $3,430,077.56. The disclosure for this purchase can be found here. Insiders own 10.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Denali Advisors LLC bought a new stake in shares of TriCo Bancshares during the 2nd quarter worth about $38,000. NEXT Financial Group Inc bought a new stake in shares of TriCo Bancshares during the 2nd quarter worth about $138,000. SG Americas Securities LLC bought a new stake in shares of TriCo Bancshares during the 1st quarter worth about $182,000. Legal & General Group Plc raised its position in shares of TriCo Bancshares by 22.7% during the 4th quarter. Legal & General Group Plc now owns 5,011 shares of the financial services provider’s stock worth $169,000 after buying an additional 927 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of TriCo Bancshares by 374.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,311 shares of the financial services provider’s stock worth $209,000 after buying an additional 4,192 shares in the last quarter. Institutional investors own 60.67% of the company’s stock.
Shares of NASDAQ TCBK traded down $0.37 during midday trading on Friday, hitting $36.14. The company’s stock had a trading volume of 36,757 shares, compared to its average volume of 69,510. TriCo Bancshares has a 1-year low of $31.05 and a 1-year high of $41.31. The business has a fifty day simple moving average of $37.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 1.75 and a beta of 0.84.
About TriCo Bancshares
TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.
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