TriCo Bancshares (TCBK) To Go Ex-Dividend on March 7th

TriCo Bancshares (NASDAQ:TCBK) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders 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 yield of 3.11%. 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 payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.1 %

Shares of TCBK stock opened at $42.45 on Wednesday. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $51.06. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 12.27 and a beta of 0.57. The company’s 50-day moving average price is $43.64 and its 200-day moving average price is $44.48. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

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

Insiders Place Their Bets

In related news, Director Cory W. Giese sold 5,100 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the sale, the director now owns 6,128 shares in the company, valued at approximately $303,152.16. The trade was a 45.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TCBK shares. Keefe, Bruyette & Woods reduced their target price on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 28th. DA Davidson lowered shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $50.75.

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.