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

TriCo Bancshares (NASDAQ:TCBK) announced a quarterly dividend on Monday, August 26th, Wall Street Journal reports. Shareholders of record on Friday, September 6th will be paid a dividend of 0.33 per share by the financial services provider on Friday, September 20th. This represents a $1.32 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, September 6th.

TriCo Bancshares has increased its dividend payment 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 38.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TriCo Bancshares to earn $3.41 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 38.7%.

TriCo Bancshares Price Performance

Shares of TCBK stock opened at $45.03 on Tuesday. The stock’s fifty day moving average is $41.89 and its 200-day moving average is $37.76. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $1.49 billion, a PE ratio of 13.73 and a beta of 0.56. TriCo Bancshares has a 52 week low of $29.38 and a 52 week high of $48.80.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $97.86 million for the quarter, compared to analysts’ expectations of $98.55 million. TriCo Bancshares had a return on equity of 9.93% and a net margin of 21.63%. Equities research analysts expect that TriCo Bancshares will post 3.3 EPS for the current fiscal year.

Analyst Ratings Changes

TCBK has been the topic of several research analyst reports. Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a report on Friday, July 26th. Stephens increased their target price on TriCo Bancshares from $43.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. StockNews.com raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Piper Sandler upped their price target on TriCo Bancshares from $47.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, DA Davidson upped their price target on TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, TriCo Bancshares presently has an average rating of “Moderate Buy” and an average price target of $49.80.

Insider Activity

In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the transaction, the director now owns 11,228 shares of the company’s stock, valued at $484,039.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.64% of the stock is currently 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.