TriCo Bancshares (NASDAQ:TCBK) Releases Quarterly 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 (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 Price Performance

Shares of TCBK opened at $42.96 on Thursday. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a fifty day moving average price of $45.61 and a 200 day moving average price of $44.34. The company has a market cap of $1.42 billion, a P/E ratio of 12.79 and a beta of 0.58.

TriCo Bancshares Announces Dividend

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

Analyst Ratings Changes

TCBK has been the topic of several research reports. DA Davidson cut TriCo Bancshares from a “buy” rating to a “neutral” rating and upped their price objective for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Stephens dropped their price target on 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 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 report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently 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 company’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 transaction, the director now owns 6,128 shares in the company, valued at approximately $303,152.16. This represents a 45.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.64% of the stock is currently owned by company 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.