We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
TriCo (TCBK) Stock Jumps 6.3%: Will It Continue to Soar?
Read MoreHide Full Article
TriCo (TCBK - Free Report) shares soared 6.3% in the last trading session to close at $35.14. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.9% loss over the past four weeks.
After getting hammered because of industry-wide concern related to commercial real estate (CRE) loans, shares of TriCo reversed the trend. With the company having manageable exposure to CRE loans, investors seem to be regained confidence in the stock/ This, along with the Federal Reserve’s signal of interest rate cuts this year, turned investors bullish on the TCBK stock.
This holding company for Tri Counties Bank is expected to post quarterly earnings of $0.81 per share in its upcoming report, which represents a year-over-year change of -24.3%. Revenues are expected to be $99.5 million, down 7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For TriCo, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TCBK going forward to see if this recent jump can turn into more strength down the road.
TriCo belongs to the Zacks Banks - West industry. Another stock from the same industry, Central Valley Community Bancorp , closed the last trading session 0.8% higher at $18.69. Over the past month, CVCY has returned 1.4%.
Central Valley Community Bancorp's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.46. Compared to the company's year-ago EPS, this represents a change of -22%. Central Valley Community Bancorp currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
TriCo (TCBK) Stock Jumps 6.3%: Will It Continue to Soar?
TriCo (TCBK - Free Report) shares soared 6.3% in the last trading session to close at $35.14. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.9% loss over the past four weeks.
After getting hammered because of industry-wide concern related to commercial real estate (CRE) loans, shares of TriCo reversed the trend. With the company having manageable exposure to CRE loans, investors seem to be regained confidence in the stock/ This, along with the Federal Reserve’s signal of interest rate cuts this year, turned investors bullish on the TCBK stock.
This holding company for Tri Counties Bank is expected to post quarterly earnings of $0.81 per share in its upcoming report, which represents a year-over-year change of -24.3%. Revenues are expected to be $99.5 million, down 7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For TriCo, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TCBK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
TriCo belongs to the Zacks Banks - West industry. Another stock from the same industry, Central Valley Community Bancorp , closed the last trading session 0.8% higher at $18.69. Over the past month, CVCY has returned 1.4%.
Central Valley Community Bancorp's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.46. Compared to the company's year-ago EPS, this represents a change of -22%. Central Valley Community Bancorp currently boasts a Zacks Rank of #3 (Hold).