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

TriCo Bancshares (NASDAQ:TCBK) issued its earnings results on Thursday. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million.

TriCo Bancshares Stock Down 2.4 %

Shares of TriCo Bancshares stock traded down $1.05 on Friday, hitting $42.92. The company had a trading volume of 10,802 shares, compared to its average volume of 116,470. TriCo Bancshares has a 1 year low of $30.21 and a 1 year high of $48.80. 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 50 day moving average of $43.32 and a 200-day moving average of $40.26. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.41 and a beta of 0.54.

TriCo Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a yield of 3.08%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 40.24%.

Insider Activity at TriCo Bancshares

In related news, Director Cory W. Giese sold 3,465 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the completion of the sale, the director now directly owns 11,228 shares of the company’s stock, valued at approximately $484,039.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Michael W. Koehnen sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $135,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the sale, the director now owns 11,228 shares in the company, valued at $484,039.08. This trade 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 insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TCBK shares. Janney Montgomery Scott reiterated a “neutral” rating on shares of TriCo Bancshares in a research note on Friday, July 26th. DA Davidson lifted their price target on shares of TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $48.00 target price (up from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. Stephens boosted their target price on TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Piper Sandler upped their price target on TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.80.

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.