TriCo Bancshares (NASDAQ:TCBK) Announces Quarterly Earnings Results

TriCo Bancshares (NASDAQ:TCBK) announced its quarterly earnings results on Thursday. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09, Zacks reports. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%.

TriCo Bancshares Stock Performance

Shares of TCBK opened at $44.04 on Friday. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 13.11 and a beta of 0.58. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06. The firm has a fifty day simple moving average of $45.54 and a 200 day simple moving average of $44.33. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

TriCo Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.33 per share. The ex-dividend date was Friday, December 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.00%. TriCo Bancshares’s dividend payout ratio is currently 39.29%.

Insider Buying and Selling at TriCo Bancshares

In related 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 completion of the transaction, the director now directly owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. This represents a 45.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.64% of the company’s stock.

Analysts Set New Price Targets

TCBK has been the subject of a number of research analyst reports. DA Davidson cut TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Piper Sandler decreased their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, Stephens dropped their target price on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.20.

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.