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

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

TriCo Bancshares Price Performance

TCBK stock traded down $1.03 during mid-day trading on Friday, reaching $42.94. 11,232 shares of the company’s stock were exchanged, compared to its average volume of 116,489. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 13.41 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 is $43.32 and its 200 day moving average is $40.26. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, September 6th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 40.24%.

Insider Transactions at TriCo Bancshares

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

Analyst Upgrades and Downgrades

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