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

TriCo Bancshares (NASDAQ:TCBK) declared a quarterly dividend on Tuesday, November 26th,Wall Street Journal reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.33 per share by the financial services provider on Friday, December 20th. This represents a $1.32 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, December 6th.

TriCo Bancshares has increased its dividend by an average of 10.9% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. TriCo Bancshares has a dividend payout ratio of 39.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect TriCo Bancshares to earn $3.32 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 39.8%.

TriCo Bancshares Stock Performance

Shares of NASDAQ TCBK traded up $0.91 during midday trading on Wednesday, hitting $49.47. 4,508 shares of the company’s stock were exchanged, compared to its average volume of 116,530. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50 day moving average price is $44.51 and its 200-day moving average price is $42.21. The firm has a market cap of $1.63 billion, a P/E ratio of 14.45 and a beta of 0.54. TriCo Bancshares has a twelve month low of $31.73 and a twelve month high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The business had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. Equities research analysts anticipate that TriCo Bancshares will post 3.38 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TCBK shares. DA Davidson downgraded TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $50.00 to $53.00 in a research report on Tuesday, November 12th. Stephens dropped their target price on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Finally, Piper Sandler dropped their target price on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.20.

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.