TriCo Bancshares (NASDAQ:TCBK) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

TriCo Bancshares (NASDAQ:TCBK) issued its quarterly earnings results on Thursday. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06, Zacks reports. TriCo Bancshares had a return on equity of 9.93% and a net margin of 21.63%. The company had revenue of $133.84 million for the quarter, compared to analyst estimates of $98.65 million.

TriCo Bancshares Stock Down 4.0 %

Shares of TCBK opened at $42.22 on Friday. The company has a market capitalization of $1.40 billion, a PE ratio of 12.87 and a beta of 0.54. TriCo Bancshares has a 12 month low of $30.21 and a 12 month high of $48.80. The stock’s 50-day moving average price is $43.30 and its two-hundred day moving average price is $40.35. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.30.

TriCo Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Friday, September 6th. TriCo Bancshares’s payout ratio is presently 40.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TCBK shares. Piper Sandler raised their price objective on TriCo Bancshares from $47.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Janney Montgomery Scott reissued a “neutral” rating on shares of TriCo Bancshares in a report on Friday, July 26th. DA Davidson raised their price objective on TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a report on Monday, July 29th. Stephens raised their price objective on TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $48.00 price objective (up previously from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.80.

Insider Activity

In other news, Director Michael W. Koehnen sold 1,400 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $135,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Michael W. Koehnen sold 1,400 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $135,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cory W. Giese sold 3,465 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $43.11, for a total value of $149,376.15. Following the completion of the transaction, the director now directly owns 11,228 shares in the company, valued at $484,039.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.64% of the stock is owned by company 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.