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

TriCo Bancshares (NASDAQ:TCBK) posted its quarterly earnings data on Thursday. The financial services provider reported $0.88 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 business had revenue of $133.84 million for the quarter, compared to the consensus estimate of $98.65 million.

TriCo Bancshares Price Performance

Shares of NASDAQ TCBK traded down $1.05 during mid-day trading on Friday, reaching $42.92. 10,802 shares of the company were exchanged, compared to its average volume of 116,470. The stock has a market capitalization of $1.42 billion, a PE ratio of 13.41 and a beta of 0.54. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 52 week low of $30.21 and a 52 week high of $48.80. The company’s 50 day moving average price is $43.32 and its 200 day moving average price is $40.26.

TriCo Bancshares Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Friday, September 6th. TriCo Bancshares’s dividend payout ratio (DPR) is currently 40.24%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at TriCo Bancshares

In other TriCo Bancshares 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 sale, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Cory W. Giese sold 3,465 shares of the stock in a transaction dated 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 $484,039.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael W. Koehnen sold 1,400 shares of the firm’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 transaction, the director now owns 3,000 shares in the company, valued at approximately $135,600. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.64% of the company’s stock.

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.