TriCo Bancshares (NASDAQ:TCBK) Posts Earnings Results, Beats Expectations By $0.09 EPS

TriCo Bancshares (NASDAQ:TCBK) issued its earnings results 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 return on equity of 9.45% and a net margin of 21.12%.

TriCo Bancshares Stock Down 0.9 %

Shares of NASDAQ:TCBK opened at $42.96 on Thursday. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 12.79 and a beta of 0.58. The company has a 50 day moving average of $45.61 and a two-hundred day moving average of $44.34. TriCo Bancshares has a 52-week low of $31.73 and a 52-week high of $51.06. 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 Dividend Announcement

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

Insider Transactions at TriCo Bancshares

In related news, Director Cory W. Giese sold 5,100 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value 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. 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 link. Corporate insiders own 4.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on TCBK shares. Piper Sandler dropped their price target on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Stephens dropped their target price on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, DA Davidson cut 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.20.

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.