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

TriCo Bancshares (NASDAQ:TCBK) released its quarterly earnings results on Thursday. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates 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 0.8 %

Shares of TCBK stock opened at $43.69 on Friday. TriCo Bancshares has a 1 year low of $31.73 and a 1 year high of $51.06. The firm’s fifty day simple moving average is $45.46 and its 200 day simple moving average is $44.37. The firm has a market capitalization of $1.44 billion, a P/E ratio of 13.00 and a beta of 0.58. 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 Dividend Announcement

The business also recently announced 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. This represents a $1.32 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 39.29%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total transaction of $252,297.00. Following the sale, the director now owns 6,128 shares in the company, valued at $303,152.16. The trade was a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.64% of the stock is currently owned by insiders.

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.