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

TriCo Bancshares (NASDAQ:TCBK) declared a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Investors of record on Friday, March 7th will be given a dividend of 0.33 per share by the financial services provider on Friday, March 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, March 7th.

TriCo Bancshares has increased its dividend payment by an average of 9.7% annually over the last three years and has increased its dividend every year for the last 12 years. TriCo Bancshares has a dividend payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect TriCo Bancshares to earn $3.67 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 36.0%.

TriCo Bancshares Price Performance

TriCo Bancshares stock opened at $43.63 on Tuesday. The firm has a market cap of $1.44 billion, a P/E ratio of 12.61 and a beta of 0.57. The stock’s 50 day moving average is $43.81 and its 200 day moving average is $44.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. As a group, research analysts expect that TriCo Bancshares will post 3.35 EPS for the current year.

Insider Activity at TriCo Bancshares

In related news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the transaction, the director now directly owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. This trade represents a 45.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.64% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on TCBK. DA Davidson lowered TriCo Bancshares from a “buy” rating to a “neutral” rating and increased their price target for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th. Stephens reduced their price objective on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Piper Sandler reduced their price objective 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. Finally, Keefe, Bruyette & Woods cut their price target on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.75.

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.