TriCo Bancshares (NASDAQ:TCBK) Releases Earnings Results, Beats Estimates By $0.09 EPS

TriCo Bancshares (NASDAQ:TCBK) released its quarterly earnings data on Thursday. The financial services provider reported $0.88 earnings per share for the quarter, topping 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 Trading Up 2.5 %

Shares of TriCo Bancshares stock opened at $44.04 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $51.06. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 13.11 and a beta of 0.58. The firm’s 50-day moving average price is $45.54 and its two-hundred day moving average price is $44.33.

TriCo Bancshares Announces Dividend

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

Insider Activity

In other news, Director Cory W. Giese sold 5,100 shares of the business’s stock in a transaction 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 owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TCBK shares. DA Davidson cut TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their price objective for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th. Stephens dropped their target price on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, Piper Sandler decreased their price target 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, 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.