TriCo Bancshares (NASDAQ:TCBK) Announces Quarterly Earnings Results

TriCo Bancshares (NASDAQ:TCBK) posted its quarterly earnings data on Thursday. The financial services provider reported $0.88 earnings per share 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 Trading Down 0.9 %

TCBK stock opened at $42.96 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.42 billion, a P/E ratio of 12.79 and a beta of 0.58. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $51.06. The business’s 50 day moving average is $45.61 and its 200-day moving average is $44.34.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s dividend payout ratio is 39.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Stephens decreased their price objective on shares of 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 cut TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their target price for the stock from $50.00 to $53.00 in a research report on Tuesday, November 12th. Finally, Piper Sandler dropped their price target on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.20.

Insider Buying and Selling at TriCo Bancshares

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total value of $252,297.00. Following the completion of the sale, the director now owns 6,128 shares in the company, valued at approximately $303,152.16. This trade represents a 45.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.64% of the company’s stock.

TriCo Bancshares Company Profile

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.