TriCo Bancshares (NASDAQ:TCBK) Declares Quarterly Dividend of $0.33

TriCo Bancshares (NASDAQ:TCBK) announced a quarterly dividend on Tuesday, November 26th,Wall Street Journal reports. Investors of record on Friday, December 6th will be given a dividend of 0.33 per share by the financial services provider on Friday, December 20th. This represents a $1.32 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, December 6th.

TriCo Bancshares has increased its dividend by an average of 10.9% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. TriCo Bancshares has a dividend payout ratio of 39.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TriCo Bancshares to earn $3.32 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 39.8%.

TriCo Bancshares Trading Down 2.1 %

NASDAQ:TCBK traded down $1.06 during trading hours on Tuesday, reaching $48.56. 98,110 shares of the stock were exchanged, compared to its average volume of 116,672. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $51.06. The business has a 50-day moving average of $44.40 and a two-hundred day moving average of $42.14. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 14.50 and a beta of 0.54. 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 (NASDAQ:TCBK) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The firm had revenue of $133.84 million for the quarter, compared to analyst estimates of $98.65 million. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. On average, equities analysts predict that TriCo Bancshares will post 3.38 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Stephens decreased their target price on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. DA Davidson downgraded shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and increased their target price for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. Finally, Piper Sandler decreased their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Four 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, the stock currently has an average rating of “Hold” and a consensus target price of $48.20.

Insiders Place Their Bets

In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total value of $63,280.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $135,600. The trade was a 31.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.64% of the stock is owned by insiders.

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.