DA Davidson Lowers Earnings Estimates for TriCo Bancshares

TriCo Bancshares (NASDAQ:TCBK) – Research analysts at DA Davidson lowered their FY2025 earnings per share estimates for TriCo Bancshares in a note issued to investors on Thursday, December 19th. DA Davidson analyst J. Rulis now forecasts that the financial services provider will post earnings per share of $3.40 for the year, down from their prior estimate of $3.45. DA Davidson currently has a “Neutral” rating and a $53.00 price target on the stock. The consensus estimate for TriCo Bancshares’ current full-year earnings is $3.38 per share.

A number of other research firms have also recently weighed in on TCBK. Piper Sandler decreased their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Stephens reduced their price objective on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.20.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK opened at $43.88 on Friday. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 13.06 and a beta of 0.56. The stock’s fifty day moving average price is $46.40 and its two-hundred day moving average price is $43.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The business had revenue of $133.84 million during the quarter, compared to analysts’ expectations of $98.65 million.

Institutional Investors Weigh In On TriCo Bancshares

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in TriCo Bancshares by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider’s stock valued at $7,305,000 after acquiring an additional 9,723 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of TriCo Bancshares by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after buying an additional 758 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of TriCo Bancshares by 7.5% in the 2nd quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 973 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of TriCo Bancshares in the second quarter valued at approximately $1,002,000. Finally, Rhumbline Advisers boosted its position in shares of TriCo Bancshares by 1.8% during the second quarter. Rhumbline Advisers now owns 63,125 shares of the financial services provider’s stock valued at $2,498,000 after buying an additional 1,109 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the transaction, the director now directly owns 6,128 shares in the company, valued at approximately $303,152.16. This represents a 45.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.64% of the stock is owned by insiders.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, December 6th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 39.29%.

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. 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.